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Advocacy in action blog

1 min read

NAIFA Urges Fast Track for Proposed  Electronic Delivery of Retirement Documents

By NAIFA on 5/1/20 2:42 PM

NAIFA supports a rule proposed by the Department of Labor that would expand the ability of retirement plan sponsors to provide participants with required disclosures and notices electronically. In a letter to Russ Vought, acting director of the Office of Management and Budget, NAIFA and partner organizations urge the administration to finalize the rule as quickly as possible.

Topics: SEC Federal Advocacy Insurance & Financial Advisor Regulation Producer Sales & Marketing
1 min read

SEC Considering Delaying Reg BI Implementation

By NAIFA Government Relations Team on 3/26/20 2:56 PM

In light of the disruptions to normal business operations brought about by efforts to curtail the spread of the Coronavirus, the U.S. Securities and Exchange Commission (SEC) is considering a possible delay in the June 30, 2020 implementation/effective date for compliance with the Commission’s new Regulation Best Interest, which establishes a heightened “best interest” standard of care for broker-dealers and their registered representatives. (In a related matter, the SEC has changed the deadline for BD firms to file their Forms ADV from March 30, 2020 to June 30, 2020.) Although no final decision has been made, the topic has been discussed by SEC leadership. NAIFA has submitted a letter to the SEC requesting a reasonable delay in the Reg BI implementation/effective date, which you can review here.

Topics: Standard of Care & Consumer Protection SEC Federal Advocacy Insurance & Financial Advisor Regulation Regulation Best Interest