{"id":7437,"date":"2009-10-12T12:17:37","date_gmt":"2009-10-12T17:17:37","guid":{"rendered":"http:\/\/www.annuityfyi.com\/blog\/?p=177"},"modified":"2023-02-15T05:40:21","modified_gmt":"2023-02-15T05:40:21","slug":"regulation-of-annuities-is-everchanging","status":"publish","type":"post","link":"https:\/\/www.annuityfyi.com\/blog\/2009\/10\/regulation-of-annuities-is-everchanging\/","title":{"rendered":"Regulation of Annuities is Everchanging"},"content":{"rendered":"<p>The National Association of Insurance Commissioners just had a fall meeting to discuss the changing regulation needs regarding annuities, according to &#8220;Taking on the next steps in annuity regulation&#8221; by Brian Atchison of <em>Investment News<\/em>.&nbsp; Consistency across the U.S. seems to be the biggest problem relating to <a title=\"annuity\" href=\"https:\/\/www.annuityfyi.com\/\" target=\"_blank\" rel=\"noopener\">annuity<\/a> regulation.&nbsp; State and federal regulators are in charge of overseeing variable annuity sales transactions, but they have differences in their policies.&nbsp; Fixed and indexed annuities are only regulated by state agencies who follow the guidelines of the NAIC.&nbsp; This is all changing with new regulations.<\/p>\n<p>The NAIC&#8217;s Suitability in Annuity Transactions Model Regulation has been adopted by 41 states.&nbsp; It basically says that any annuity being sold has be suitable to the purchasers&#8217; needs and will be subject to regulators if it is not.&nbsp; Unfortunately all states have not adopted the regulations and those that have are interpreting the rule in their own ways, so nothing is standard across the U.S.&nbsp; The Insurance Marketplace Standards Association and Finra have proposed that the NAIC give more guidance, direction and greater enforcement to the 41 states following their guidelines.&nbsp; With that proposal, the NAIC has decided not to change their current guidelines, but to focus on meshing them with Finra Rule 2821.&nbsp; As IMSA, the NAIC, and Finra are able to work together to regulate annuities, it can only help consumers&#8217; interests.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Association of Insurance Commissioners just had a fall meeting to discuss the changing regulation needs regarding annuities, according to &#8220;Taking on the next steps in annuity regulation&#8221; by Brian Atchison of Investment News.&nbsp; Consistency across the U.S. seems to be the biggest problem &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Regulation of Annuities is Everchanging\" class=\"read-more button\" href=\"https:\/\/www.annuityfyi.com\/blog\/2009\/10\/regulation-of-annuities-is-everchanging\/#more-7437\" aria-label=\"Read more about Regulation of Annuities is Everchanging\">Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34,55,340,88,418,164,12],"tags":[33,54,38,40],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/posts\/7437"}],"collection":[{"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/comments?post=7437"}],"version-history":[{"count":1,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/posts\/7437\/revisions"}],"predecessor-version":[{"id":27553,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/posts\/7437\/revisions\/27553"}],"wp:attachment":[{"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/media?parent=7437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/categories?post=7437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/tags?post=7437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}