Advocacy in action blog

NAIFA-CA members, including National President Tom Michel, LACP, and Past President John Davidson, LUTCF, FSS, attended a meeting earlier this week with California state and federal lawmakers. During the event, NAIFA members were able to connect with several state officials.

NAIFA strongly supports the Securities and Exchange Commission’s (SEC's) Regulation Best Interest (REG BI) to protect investors and preserve the ability of financial advisors to serve the needs of Main Street USA consumers. The rule is in harmony with the National Association of Insurance Commissioners’ (NAIC's) revised Annuity Suitability Model, which requires producers to work in the best interests of consumers during annuity transactions, providing enhanced investor protections at the federal and state levels and discouraging a mishmash of confusing and potentially contradictory laws and regulations.

The monthly newsletter of the National Council of Insurance Legislators (NCOIL) features a front-page article contributed by NAIFA State Chapters Director Julie Harrison on the best interest standard incorporated into the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transaction Model Regulation. 

On September 21, 2021, Reps. Mike Thompson (D-CA) and Adrian Smith (R-NE) introduced H.R. 5318. This bipartisan bill will provide much-needed relief for employers seeking to comply with the reporting requirements under Section 6055 and 6056 for enforcement of the ACA's individual and employer mandates. NAIFA believes the passage of this legislation would greatly assist in addressing new challenges employers face under the health-reform law.

The inaugural Terry Headley Lifetime Defender Award will recognize a current NAIFA member who shows exemplary service to their profession, colleagues, and clients through their political advocacy and contributions to IFAPAC.

The deadline to nominate a NAIFA member for the award is Sept. 30.

NAIFA joined with industry partners in a letter to express strong support for National Defense Authorization Act (NDAA) amendment #445 offered by Representative Dean (D-PA), with the support of Representatives Armstrong (R-ND), Turner (R-OH), Perlmutter (D-CO), and Reschenthaler (R-PA).

NAIFA is pleased to welcome Kim Durcho as a Grassroots Director. Durcho joins NAIFA’s Government Relations team and reports to Senior Vice President for Government Relations Diane Boyle.

As Grassroots Director, Durcho will develop and execute a comprehensive advocacy program to foster member participation in grassroots efforts at the national and state level.

In advance of the Ways and Means Committee mark-up, NAIFA signed a letter with more than 100 other organizations representing Main Street employers asking Congress to reject proposed tax increases that would harm these businesses and the consumers they serve.

NAIFA has signed on as an official partner for Employee Voter Registration Week, which will take place from September 27 to October 1. During this week, NAIFA along with other companies and trade associations will be active on social media encouraging stakeholders and employees across the country to get registered to vote in the upcoming elections.

NAIFA’s Dallas chapter recently held its annual legislative luncheon. During the event, NAIFA members met with federal and state legislators and their staff and shared key NAIFA advocacy messages. NAIFA-TX lobbyist Elizabeth Hadley and NAIFA’s national Government Relations Director Mike Hedge joined the event and gave a legislative update via Zoom.