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Advocacy in action blog

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. 

Topics: Standard of Care & Consumer Protection Interstate Advocacy NAIC Model Regulation Federal Advocacy DOL NAIC
1 min read

No Candy for You: DOL Rolls Out Failed Fiduciary-Only Approach Again

By NAIFA on 10/31/23 10:39 AM

NAIFA CEO Kevin Mayeux, CAE, issued the following statement on the proposed Department of Labor fiduciary rule expected to be made public later today:

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

NAIFA CEO Represents Advisors and Consumers in Meeting With Administration on DOL’s Fiduciary Proposal

By NAIFA on 10/10/23 11:18 AM

NAIFA CEO Kevin Mayeux, CAE, told the Biden Administration in a meeting that the Department of Labor’s (DOL’s) current efforts to revive a fiduciary-only regulation for financial professionals is unnecessary and likely to harm low- and middle-income consumers.

Topics: Press Release Federal Advocacy Annuity Best Interest DOL Regulation Best Interest White House Fiduciary
2 min read

NAIFA Seeks Middle Ground on STDLI Health Policies

By NAIFA on 9/12/23 5:25 PM

Short-term limited duration insurance (STLDI) is very important to many American families and individuals looking to fill gaps in their health insurance coverage and unable to access the individual health insurance marketplace. A current proposal by the administration would reduce the maximum allowable STLDI coverage period from 12 months to three months with a possible one-month renewal. People would be able to purchase a new STLDI policy from a different carrier, but would not be allowed to "stack" a new policy from the same carrier on an expiring policy.

Topics: Health Care Legislation & Regulations Taxes DOL Insurance & Financial Advisor Regulation
2 min read

NAIFA Is Well-Prepared to Oppose DOL's Fiduciary 2nd Act

By NAIFA on 9/11/23 4:52 PM

NAIFA has not been sitting idle as the Department of Labor made moves to propose a new fiduciary rule. In anticipation of the rulemaking, NAIFA helped the National Conference of Insurance Legislators (NCOIL) draft a resolution that opposes the DOL's new fiduciary rule as unnecessary and likely harmful to consumers. The resolution, which NCOIL adopted in July after NAIFA testified at the Conference's 2023 Summer Meeting, states: "NCOIL urges the DOL to refrain from further rulemaking that would revive all or parts of the 2016 Fiduciary Rule" and "...urges state legislators and other interested stakeholders to join in opposition to any further rulemaking by DOL reviving the 2016 Fiduciary Rule."

Topics: Legislation & Regulations Federal Advocacy DOL Regulation Best Interest Fiduciary
2 min read

NAIFA CEO Kevin Mayeux: The DOL's Decision to Propose a New Fiduciary Rule Harms Americans

By Kevin Mayeux on 9/9/23 6:02 PM

Kevin Mayeux, CEO of the National Association of Insurance and Financial Advisors (NAIFA), issued the following statement on the Department of Labor’s beginning of the regulatory process to propose a fiduciary-only rule:

Topics: Legislation & Regulations Standard of Care & Consumer Protection Press Release DOL
2 min read

NCOIL Adopts NAIFA-Backed Resolution Opposing Potential Fiduciary Rulemaking by the DOL

By NAIFA Government Relations Team on 7/21/23 5:49 PM

This afternoon, the National Conference of Insurance Legislators (NCOIL) adopted a NAIFA-backed resolution that opposes potential fiduciary rulemaking by the Department of Labor (DOL). 

Topics: NAIC Model Regulation DOL NCOIL Regulation Best Interest Fiduciary
1 min read

NAIFA's O'Gara Asks DOL to Preserve Advisors' Independent Status

By NAIFA on 6/30/22 12:03 PM

Josh O'Gara, CLU, ChFC, CFP, loyal member since 2011, spoke on behalf of NAIFA during the U.S. Department of Labor's virtual public forum on the classification of employees and independent contractors under the Fair Labor Standards Act. NAIFA strongly supports an exemption for insurance and financial professionals under any legislation or DOL regulation that would reclassify independent contractors as employees.

Topics: Federal Advocacy Grassroots DOL

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