Michigan Governor Gretchen Whitmer has signed a bill NAIFA-MI helped shape and strongly advocated for that will help protect vulnerable adults, specifically seniors, from financial fraud and exploitation. The new law allows broker-dealers or investment advisors to delay disbursements or transactions if they suspect a client is being exploited or defrauded.
2 min read
Michigan Enacts NAIFA-Supported Law to Protect Consumers From Financial Fraud
By NAIFA on 12/15/23 9:11 AM
Topics: State Advocacy Michigan Supported Legislation Senior Financial Protection
3 min read
NAIFA President and His Client Offer the DOL a Unique Perspective
By NAIFA on 12/12/23 12:04 PM
The Department of Labor thinks it knows what's best for Americans preparing for retirement. NAIFA President Bryon Holz, CLU, ChFC, LUTCF, CASL, LACP, and his long-time client Chuck Ross think the DOL is wrong and bring their real-life experience to the argument.
Topics: Legislation & Regulations Standard of Care & Consumer Protection Federal Advocacy DOL
3 min read
New Rule Strengthens Protections for Utah Annuity Consumers
By NAIFA & ACLI on 12/12/23 11:23 AM
American Council of Life Insurers (ACLI) President and CEO Susan Neely and National Association of Insurance and Financial Advisors’ (NAIFA)—Utah Government Relations Chair Dori Phillips, issued the following joint statement on the best interest annuity rule adopted recently by the Utah Insurance Department:
Topics: Legislation & Regulations State Advocacy Press Release Annuity Best Interest Utah
1 min read
NAIFA-WI Sees Financial Literacy Bill Signed Into Law
By NAIFA on 12/8/23 3:35 PM
NAIFA-WI members Kris Alfheim and Sherri Mitchell and lobbyist George Ermert attended a bill-signing ceremony with Governor Tony Evers for legislation requiring high school students to complete a personal finance course prior to graduation.
Topics: Legislation & Regulations State Advocacy Financial Literacy Wisconsin
2 min read
NAIFA Asks, Members of Congress Act
By NAIFA on 12/8/23 2:28 PM
Just two days after NAIFA members were on the Hill, House Committee on Small Business Chairman Roger Williams (R-TX), Rep. Dan Meuser (R-PA), Rep. Mark Alford (R-MO), and Rep. Aaron Bean (R-FL) wrote to Department of Labor Acting Secretary Julie SU inquiring about the impact of the DOL proposal on small businesses.
Topics: Standard of Care & Consumer Protection Grassroots DOL Regulation Best Interest
2 min read
NAIFA Opposes NASAA Proposal That Would Conflict With Reg BI
By NAIFA on 12/7/23 10:49 AM
Proposed changes to the North American Securities Administrators Association's (NASAA's) Model Rule on Dishonest and Unethical Business Practices of Broker-Dealers and Agents would conflict with existing, effective consumer-protection regulations and cause unintended harm to investors. NAIFA urges NASAA to reconsider the proposed revisions.
Topics: Standard of Care & Consumer Protection Interstate Advocacy DOL NAIC NCOIL NASAA
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NAIFA Members Advocate for Access to Financial Service Professionals
By NAIFA on 12/5/23 3:53 PM
More than 250 NAIFA members took to Capitol Hill today to meet with over 200 Congressional offices to advance the need to protect the worker classification of financial service professionals as independent contractors and to provide consumers a variety of choices in financial service professionals. The Day on the Hill was coupled with NAIFA’s National Leadership Conference which serves to train the leaders of state and local chapters in grassroots advocacy.
Topics: Federal Advocacy Grassroots DOL
1 min read
Tell Your Members of Congress How the DOL's Proposed Fiduciary Rule Would Impact Your Clients
By NAIFA on 11/10/23 4:14 PM
The Department of Labor has proposed a fiduciary-only rule that would limit the choices consumers have when seeking investment and retirement-planning advice and could make it difficult for low- and middle-income investors to receive services and advice.
Topics: Legislation & Regulations Standard of Care & Consumer Protection Federal Advocacy DOL
1 min read
DOL Fiduciary Rule Comment Period Sends the Wrong Message
By NAIFA on 11/8/23 2:57 PM
Topics: Legislation & Regulations Standard of Care & Consumer Protection DOL
2 min read
NAIFA Supports NAIC Statement on DOL Proposal
By NAIFA on 11/2/23 9:35 AM
NAIFA has strong advocacy relationships with interstate organizations like the National Association of Insurance Commissioners (NAIC), National Council of Insurance Legislators (NCOIL), and North American Securities Administrators Association (NASAA). We attend their meetings, provide input through comments and testimony, and work with them on resolutions and model regulations that impact consumers and the insurance and financial services industry.