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If you haven't heard this, this is GREAT NEWS!!
Initially, I thought that the passing of SB263 was horrible... until I realized it was the ADJUSTED SB263 to model NAIC best interest standards, NOT the originally proposed Fiduciary Bill requiring up to 10 years of commission disclosure!
This should ALSO mean a slowing down of the proposed DOL ruling.
www.thinkadvisor.com
Initially, I thought that the passing of SB263 was horrible... until I realized it was the ADJUSTED SB263 to model NAIC best interest standards, NOT the originally proposed Fiduciary Bill requiring up to 10 years of commission disclosure!
This should ALSO mean a slowing down of the proposed DOL ruling.
California Governor Signs Annuity Best Interest Sales Rule Bill | ThinkAdvisor
Gavin Newsom's support for the NAIC approach could stop the DOL fiduciary definition proposal.
www.thinkadvisor.com
