National Association of Insurance and Financial Advisors

NAIFA Testifies on Annuity Suitability at Spring NAIC Meeting

April 17, 2017

In recent years issues involving the standard of care applicable to the provision of financial services and product recommendations have been a constant topic of discussion, ranging from Section 913 of the Dodd-Frank law (which gave the SEC the authority to impose a uniform fiduciary duty on investment advisers and broker-dealers) to the recent Department of Labor rule that put in place a fiduciary duty of care for advisers providing advice and recommendations regarding retirement accounts. ...

Congressional Conference is NEXT Month - Register Today!

April 17, 2017

Want to Have an Impact on Tax, Health, and Retirement Policy?   More importantly, do you want to benefit your clients, industry, and community? There’s no better way than attending NAIFA’s Congressional Conference .   What is it? The Congressional Conference is an opportunity for NAIFA members to build new relationships and strengthen existing connections in order to establish a basic level of education among all members of Congress and their staff about the value of life insur...

DOL Finalizes Rule to Delay Fiduciary Rule Applicability Date to June 9

April 17, 2017

On April 7, the Department of Labor (DOL) finalized its proposed rule delaying the fiduciary rule’s applicability date from April 10, 2017 to June 9, 2017. The delay rule does delay everything until June 9 th - and on June 9 th , advisors providing investment advice for a fee to retirement plans, participants or to IRA holders will need to satisfy the Impartial Conducts Standard.  The standard requires that advice be in the best interest of the client (prudent and loyal), that there not be a...

ACA Repeal-Replace Effort Stalls, but Is Not Dead

April 17, 2017

As reported in the March 27 th GovUpdate , after failing to find consensus the American Health Care Act (H.R. 1628) was pulled by House leadership prior to a vote on the House floor. Ongoing negotiations are attempting to revive the measure, but so far consensus remains elusive.   In the meantime, the Department of Health and Human Services (HHS) recently updated its website to explain the regulatory changes it is making to overhaul the Affordable Care Act (ACA) and stabilize the marketp...

House Approves Health Insurer Antitrust, AHP Bills

April 17, 2017

On March 22, the House of Representatives passed two bills, one to eliminate health insurers’ limited antitrust exemption and one to create association health plans (AHPs), as part of its Affordable Care Act (ACA) repeal-and-replace effort. However, the bills may stall in the Senate.   The Competitive Health Insurance Reform Act of 2017 ( H.R. 372 ) passed by a vote of 416 to 7. The bill amends the McCarran-Ferguson Act to apply federal antitrust laws to the business of health insurance. ...