National Association of Insurance and Financial Advisors

NAIFA Submits Comments to SEC on Advisor Standards of Conduct

August 31, 2017

NAIFA has responded to a request by the Securities and Exchange Commission for information on standards of conduct for investment advisors and broker-dealers by submitting a detailed comment letter .   In the letter, NAIFA encouraged the SEC to take the lead in developing and implementing “reasonable, effective, and harmonized standards and compliance requirements” for advisors and for other agencies, such as the Department of Labor, to work with the SEC.   NAIFA recommends that the ...

Wheeler Letter: DOL Rule Will Impact Smaller Investors

August 24, 2017

NAIFA Trustee John Wheeler sent the following letter to the editors of Crain's Chicago Business in response to an op-ed column run by the publication that criticized Rep. Peter Roskam for his stance of the Department of Labor's fiduciary rule: To the editors,   I have been an insurance and financial advisor for 40 years, and Rep. Peter Roskam recognizes that my colleagues and I provide a critical service for many Illinoisans who are saving and investing for retirement. Perhaps this, des...

  • Comments (1)

DOL Proposes 18-Month Delay of Fiduciary Rule

August 10, 2017

The U.S. Department of Labor has proposed delaying the applicability date of key provisions of the DOL fiduciary rule for 18 months, from January 1, 2018 to July 1, 2019. The proposal is under review by the Office of Management and Budget.   “NAIFA welcomes the DOL’s decision to seek a delay of the fiduciary rule applicability dates and extension of the transition period,” said NAIFA CEO Kevin Mayeux. “There is so much at stake for everyday Americans investing for retirement who rely on t...

  • Comments (2)

NAIFA, Industry Allies Continue Challenge to DOL Fiduciary Rule

August 1, 2017

By Michael E. Gerber, NAIFA COO and General Counsel   On July 31, NAIFA’s ongoing legal battle against the DOL fiduciary rule was argued in the federal 5 th Circuit Court of Appeals in New Orleans. In June 2016, NAIFA, NAIFA-Texas, and five NAIFA local associations in Texas (from Amarillo, Dallas, Fort-Worth, Great-Southwest, and Wichita Falls), joined the American Council of Life Insurers (ACLI) in challenging the DOL fiduciary rule because of grave concerns that the rule will – and...