The Insured Retirement Institute's Aug. 7 comment letter says evidence demonstrates negative consequences the rule is already having on retirement savers and the industry.
In the wake of the DOL Fiduciary Rule, the fee-based fixed indexed annuity movement continues to gain momentum with the introduction of new products this month from Nationwide and Symetra.
Comments - some due by July 21 - seek input on whether to delay the Jan. 1 full implementation date and suggestions for streamlining the Rule's major provisions.
With the DOL Fiduciary Rule now partially in effect, an increasing number of new tools are being introduced to help advisors and insurance agents comply in the new environment.
Expanded definition of who is a fiduciary and impartial conduct standards set to take effect June 9, but DOL won’t enforce provisions until start of next year.
Labor Secretary Acosta announces initial implementation will begin June 9 as the agency will continue to review the rule up until final implementation on January 1, 2018.
LIMRA Secure Retirement Institute expects overall sales in 2017 to fall below $200 billion, which would be the lowest annuity sales have been since 2001.
As industry associations including NAFA and IRI scramble to push for further delay of the scheduled June 9 initial implementation, FINRA Chairman Jack Brennan this week said whether or not the rule becomes law is now almost beside the point.
Just as soon as the U.S. Senate confirmed Alexander Acosta as Secretary of Labor on April 27, a variety of insurance and financial services industry ... Read more
Fidelity & Guaranty Life has terminated its previously announced $1.6 billion merger agreement with Beijing, China-based Anbang Insurance Group, according to an April 17 statement ... Read more