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Advocacy in action blog

1 min read

Register Today for the NAIFA Congressional Conference - Let’s Amplify Our Voice on Capitol Hill

By NAIFA on 3/22/24 4:52 PM

NAIFA’s Congressional Conference is where you get to advocate for your business, peers, clients, and communities right at the heart of policy-making in Washington, D.C. It’s a direct line to influencing the decisions that affect millions who depend on your guidance. Engaging with Congress members this May isn’t just about representing your own interests; it's about voicing the collective needs of the financial services industry and the families and businesses that rely on you.

Topics: Congressional Conference
1 min read

NAIFA CEO Kevin Mayeux Applauds U.S. House Committee's decision to repeal DOL independent contractor rule

By NAIFA on 3/22/24 6:22 AM

“NAIFA is pleased with the U.S. House panel’s decision to repeal the DOL’s independent contractor rule removing confusion and uncertainty resulting from the final rule and preserves the ability of our members to choose to operate as independent contractors. The majority of NAIFA’s members – insurance producers, broker dealer representatives, and/or independent registered investment advisors – are independent contractors who help generate economic growth and financial security to the local communities they serve across the nation.

Topics: DOL
2 min read

NAIFA-Tennessee Grassroots Doubles the Impact

By NAIFA on 3/14/24 11:56 AM

On Tuesday, March 12, 2024, John Richardson and Mark Miller, members of NAIFA-Tennessee, showed the impact of grassroots advocacy by advocating against two sets of bills detrimental to the industry.

Topics: State Advocacy Grassroots Legislative Day Insurance & Financial Advisor Regulation Tennessee
1 min read

DOL Advances Fiduciary-Only Proposal That Would Limit Access to Financial Services for Lower- and Middle-Income Consumers

By NAIFA on 3/11/24 3:06 PM

NAIFA CEO Kevin Mayeux, CAE, issued the following statement in response to the U.S. Department of Labor’s decision to advance its proposed “Retirement Security Rule” for review by the White House Office of Management and Budget (OMB).

Topics: Retirement Planning Legislation & Regulations Standard of Care & Consumer Protection Press Release DOL
3 min read

New Rule in Indiana Enhances Protections for Annuity Consumers

By NAIFA & ACLI on 3/7/24 8:25 AM

The Indiana Department of Insurance, led by Commissioner Amy Beard, has adopted a new rule that strengthens protections for consumers seeking lifetime income through annuities. Indiana is the 45th state to adopt a measure that closely tracks the ‘best interest of consumer enhancements’ in the National Association of Insurance Commissioners (NAIC)  Suitability in Annuity Transactions Model Regulation. These new laws and regulations also align with the SEC’s Regulation Best Interest, providing consumers with comprehensive state and federal protections. Over 90% of Americans now live in a state that has adopted a best interest standard for annuities.

Topics: Press Release Annuity Best Interest Indiana NAIC
3 min read

NAIFA Fly-In Spotlights Women’s Financial Security in Meetings With Members of Congress

By NAIFA on 3/4/24 1:14 PM

The National Association of Insurance and Financial Advisors (NAIFA) hosted its second Women’s Financial Security Fly-In March 6-7 in Washington, D.C. The event, designed to encourage the political involvement of women financial professionals, featured a day of grassroots advocacy training, policy briefings, inspirational discussions, and networking. On the second day of the event, attendees from 15 different states went to Capitol Hill for meetings with lawmakers representing their home states and districts.

Topics: Women Press Release Grassroots Congress
1 min read

NAIFA’s Mayeux Applauds California’s Adoption of the NAIC Best Interest Model for Annuity Transactions

By NAIFA on 3/1/24 9:41 AM

California Governor Gavin Newsom has signed legislation that incorporates the National Association of Insurance Commissioners (NAIC) model for annuity transactions. NAIFA Kevin Mayeux, CAE, released the following statement:

Topics: State Advocacy Press Release NAIC Model Regulation Annuity Best Interest California
2 min read

NAIFA's Gandy Tells Congress DOL Proposal Is Unnecessary

By NAIFA on 3/1/24 8:41 AM

NAIFA wholeheartedly supports a best interest standard for retirement investment professionals, but believes the Department of Labor's proposal to impose a fiduciary-only regulation goes too far, NAIFA Secretary Chris Gandy wrote in letter submitted to be part of the official record of a recent House Subcommittee on Health, Employment, Labor, & Pensions hearing entitled "Protecting American Savers and Retirees from DOL’s Regulatory Overreach.”

Topics: Federal Advocacy Congress DOL Supported Legislation
3 min read

New Hampshire Adopts Enhanced Safeguards for Annuity Consumers

By NAIFA & ACLI on 2/29/24 4:39 PM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-New Hampshire Past President Dawn Chambers issued the following joint statement on the best interest annuity rule adopted recently by the New Hampshire Insurance Department:

Topics: State Advocacy Interstate Advocacy Press Release NAIC Model Regulation New Hampshire Annuity Best Interest
1 min read

NAIFA Reports on the State of Advocacy

By NAIFA on 2/23/24 2:33 PM

NAIFA is the leading advocacy voice for insurance and financial professionals at the federal and state levels. The association boasts members in every Congressional district and has a strong advocacy presence in every state capital. Last year, NAIFA tracked more than 490 state-level bills that had the potential to affect NAIFA members and the consumers they serve. NAIFA members or staff testified at more than 30 state-level hearings, providing real-world accounts of how policy proposals could benefit or harm the financial security of consumers. 

Topics: State Advocacy Federal Advocacy