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1 min read

NAIFA Joins Main Street Employers Urging Congress to Reconsider Tax Proposals

By NAIFA on 9/15/21 12:01 PM

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.

Topics: Legislative & Regulatory Tax Federal Advocacy
1 min read

NAIFA Supports Bill to Reform Index-Linked Annuities Registration

By Mike Hedge on 8/16/21 9:39 AM

A bipartisan bill to direct the Securities and Exchange Commission to issue a new form for annuity issuers to use when filing registered index-linked annuities has been reintroduced in the House. 

Topics: Annuities Legislative & Regulatory SEC Federal Advocacy
1 min read

ThinkAdvisor Article Highlights NAIFA Suggestions to FINRA on DEI

By NAIFA on 7/9/21 10:27 AM

NAIFA has suggested ways for the Financial Industry Regulatory Authority (FINRA) to promote diversity, equity, and inclusion (DEI), and the association’s ideas have gained notice.

In an article this week, the influential industry publication ThinkAdvisor has highlighted suggestions made by NAIFA Senior Vice President for Government Relations Diane Boyle and Policy Director Maeghan Gale. Among the NAIFA ideas called out by ThinkAdvisor are:

Topics: Legislative & Regulatory Diversity & Inclusivity Federal Advocacy
1 min read

Three More States Enact Consumer-Protection Rules Based on the NAIC’s Annuity Transactions Model

By NAIFA on 6/29/21 2:52 PM

Alabama, Maine, and Virginia have joined 12 other states in adopting consumer-protection regulations or legislation based on the National Association of Insurance Commissioners’ (NAIC’s) Suitability in Annuity Transactions Model. The NAIC model requires financial professionals to work in the best interests of their clients during annuities transactions and aligns with the federal Securities and Exchange Commission’s Regulation Best Interest. It also preserves the ability of consumers to work with agents and advisors offering a variety of successful business models and avoids restrictions that would likely make it impossible for financial professionals to work with Main Street investors and retirement savers.

Topics: Annuities Legislative & Regulatory State Advocacy Interstate Advocacy
1 min read

NAIFA Signs on to Support Letter for SECURE Remote Online Notarization

By Mike Hedge on 6/10/21 5:47 PM

NAIFA joined with industry partners in a letter to House sponsors of the SECURE Remote Online Notarization Act urging support for the importance of the legislation. Bipartisan legislation (S. 5355, H.R. 6364) was introduced by Sens. Kevin Cramer (R-ND) and Mark Warner (D-VA), and Reps. Guy Reschenthaler (R-PA) and Madeleine Dean (D-PA). 

Topics: Legislative & Regulatory Federal Advocacy
1 min read

New Missouri Law Allows CE for Agent Association Membership

By NAIFA Missouri on 6/10/21 10:45 AM

Legislation signed recently by Governor Mike Parsons "allows an insurance producer to receive up to four hours of continuing education credit per biennial reporting period for participation as an individual member or employee of a business entity producer member of a local, regional, state, or national professional insurance association with approval by the Director of the Department of Commerce and Insurance."

NAIFA-MO worked on securing the adoption of the bill (HB 604) for several years.

“Our State Government Relations Committee found a good sponsor in Rep. Kurtis Gregory, and we are very proud of this accomplishment for NAIFA members,” said Ed Anderson, NAIFA-MO’s National Committeeperson.

Over the past several years, many NAIFA state chapters have been advocating for legislation to allow financial advisors to receive CE credit for their membership and active participation in a professional agent association. Due to NAIFA’s advocacy, at least 11 states allow advisors to be eligible for CE credit for their association membership: Arkansas, Georgia, Louisiana, Missouri, Nebraska, North Carolina, Ohio, Oklahoma, Texas, Utah, and West Virginia. Depending on the state and the approval of the respective state insurance commissioner, advisors may receive from one to six CE credit hours for this purpose.

As NAIFA has argued in state legislatures and before the National Association of Insurance Commissioners, professional insurance associations promote high standards of ethical conduct and provide educational programs and professional development opportunities to association members. NAIFA believes advisors who are active members of an agent association should be eligible for continuing education credit for such membership.

“We believe that permitting advisors to receive CE credit for association membership both encourages advisors to become members of nationally recognized professional insurance associations and benefits consumers by ensuring them access to better qualified advisors,” said Anderson.

Topics: Continuing Ed Legislative & Regulatory State Advocacy
1 min read

NAIFA’s Maeghan Gale Speaks to LTCI Partners on Recent Trends in LTC Legislation

By LECP Center on 6/4/21 5:44 PM

NAIFA’s Policy Director Maeghan Gale joined LTCI Partners Managing Director, Tom Riekse, and Director Steve Cain for a panel discussion about recent Long Term Care Insurance legislation.  For many years, Long-Term Care Insurance took a backseat as it relates to legislative action on the state and federal level. However, 2021 has brought a wave of activity as lawmakers consider the best way to support their growing aging populations.

Topics: Advocacy Long Term Care Aging in Place Legislative & Regulatory
3 min read

Members of Congress Praise NAIFA Advocates at Virtual Congressional Conference

By NAIFA on 5/28/21 10:34 AM

NAIFA’s Virtual Congressional Conference, May 25-26, was an overwhelming success, with more than 1,300 registered participants. These insurance and financial advisors received advocacy training, benefited from policy briefings, and heard words of encouragement from Sen. Tim Scott (R-SC) and Reps. Stephanie Murphy (D-FL) and Darin LaHood (R-IL), as well as NAIFA CEO Kevin Mayeux and American Council of Life Insurers President and CEO Susan Neely.

Topics: Legislative & Regulatory Federal Advocacy

NAIFA President Michel: It's Not Too Late to Register for Congressional Conference

By NAIFA on 5/23/21 3:30 PM

NAIFA President Tom Michel, LACP, is a political advocacy rock star! He's met with more than 100 legislators in his career and had an impact on policy decisions vital to his business, the insurance and financial services industry, and the consumers who depend on financial professionals. He understands the power of the Congressional Conference, his favorite NAIFA event of the year, and extends his personal invitation for all insurance and financial advisors to attend this year's virtual event.

Topics: Legislative & Regulatory Federal Advocacy
1 min read

NAIFA Supports Cardin, Portman Efforts to Move Retirement Reform Legislation

By NAIFA on 5/21/21 3:59 PM

NAIFA CEO Kevin Mayeux has thanked Sens. Ben Cardin (D-MD) and Rob Portman (R-OH) for introducing the Retirement Security and Savings Act of 2021. The Securing a Strong Retirement Act of 2021 is working its way through the House and three Senators earlier this week introduced the Improving Access to Retirement Savings Act.

Topics: Retirement Legislative & Regulatory Federal Advocacy

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