Insurance Commissioner to Enact Rules That Would Limit the Commission -Tx

[cloisbarton]

[FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif]NAIFA-Texas Monitoring Legislation of Interest
[FONT=Arial,Helvetica,sans-serif]As the March 13 deadline for filing of bills in the 81st Texas Legislature approaches, almost three thousand bills have been filed in the House of Representatives and two thousand have been filed in the Senate. Among the bills already filed are many that carry potential impact for agents and financial advisors doing business in Texas, including:

Here is one that I am getting a lot of inquiry about from agents that I work with. If Texas passes this other states are sure to follow - Ca, Fl, etc....

[/FONT][/FONT][/FONT][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Arial,Helvetica,sans-serif]H.B. 2650https://mail.milnergroup.com/owa/re...sdaJBcP1Skt7NQsD8eyX2Rq38AomRAugrWtZPPjA02A==[FONT=Arial,Helvetica,sans-serif]/[FONT=Arial,Helvetica,sans-serif]S.B. 961https://mail.milnergroup.com/owa/re...ed4YFiDX5Q4PCT1836VueH0BdXgQzdolDmw4nlHLDlA==[FONT=Arial,Helvetica,sans-serif] - Filed by Representative John Smithee (R-Amarillo) and Senator Rodney Ellis (D-Houston), these bills would enable the Insurance Commissioner to enact rules that would limit the commission or other compensation that may be paid to an agent for the sale of an annuity;

There are many others, but you can see why this is a hot topic.

Here is another, which you can probable see the reason behind this one:

[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Arial,Helvetica,sans-serif]H.B. 2456https://mail.milnergroup.com/owa/re...yG_7lZK1tb1lwhACWAJQHPOtxIg2UAutJ2Q940fsU8Q==[FONT=Arial,Helvetica,sans-serif] - Filed by Representative Craig Eiland (D-Galveston), this bill would grant the Insurance Commissioner rule-making authority to[FONT=Arial,Helvetica,sans-serif] require agents to obtain certification before selling certain "complex insurance products;" and


[/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Arial,Helvetica,sans-serif][/FONT][/FONT][/FONT]

 

[insuranceexec]

[FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif]NAIFA-Texas Monitoring Legislation of Interest
[FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Arial,Helvetica,sans-serif]As the March 13 deadline for filing of bills in the 81st Texas Legislature approaches, almost three thousand bills have been filed in the House of Representatives and two thousand have been filed in the Senate. Among the bills already filed are many that carry potential impact for agents and financial advisors doing business in Texas, including:

[FONT=Verdana,Geneva,Arial,Helvetica,sans-serif]Here is one that I am getting a lot of inquiry about from agents that I work with. If Texas passes this other states are sure to follow - Ca, Fl, etc....

[/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Arial,Helvetica,sans-serif]H.B. 2650https://mail.milnergroup.com/owa/re...sdaJBcP1Skt7NQsD8eyX2Rq38AomRAugrWtZPPjA02A==[FONT=Arial,Helvetica,sans-serif]/[FONT=Arial,Helvetica,sans-serif]S.B. 961https://mail.milnergroup.com/owa/re...ed4YFiDX5Q4PCT1836VueH0BdXgQzdolDmw4nlHLDlA==[FONT=Arial,Helvetica,sans-serif] - Filed by Representative John Smithee (R-Amarillo) and Senator Rodney Ellis (D-Houston), these bills would enable the Insurance Commissioner to enact rules that would limit the commission or other compensation that may be paid to an agent for the sale of an annuity;[/FONT]

[FONT=Arial,Helvetica,sans-serif]There are many others, but you can see why this is a hot topic.

[FONT=Arial,Helvetica,sans-serif]Here is another, which you can probable see the reason behind this one:[/FONT]

[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Verdana,Geneva,Arial,Helvetica,sans-serif][FONT=Arial,Helvetica,sans-serif]H.B. 2456https://mail.milnergroup.com/owa/re...yG_7lZK1tb1lwhACWAJQHPOtxIg2UAutJ2Q940fsU8Q==[FONT=Arial,Helvetica,sans-serif] - Filed by Representative Craig Eiland (D-Galveston), this bill would grant the Insurance Commissioner rule-making authority to[FONT=Arial,Helvetica,sans-serif] require agents to obtain certification before selling certain "complex insurance products;" and [/FONT][/FONT][/FONT][/FONT][/FONT]

This is currently "in the works" in Florida as well.

 

[Freddie]

This is currently "in the works" in Florida as well.

Full court press by the securities industry. The state senator and co-author of the Florida bill is a broker at Morgan Stanley.