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CFPB issues report on the use of senior designations and recommendations for regulation

USA - April 24 2013 April 22, 2013 -- On April 18, the Consumer Financial Protection Bureau ("CFPB") delivered a report to Congress and the Securities and Exchange…

Ann Furman, Scott C. Shine

Iowa leads the way issuing guidance on annuity illustrations

USA - April 5 2013 April 5, 2013 -- On April 3, 2013, Iowa Insurance Commissioner Nick Gehart issued Iowa Insurance Department ("IID") Bulletin 13-01 providing guidance…

Ann Furman

SEC seeks cost/benefit data relating to standards of conduct for broker-dealers and investment advisers

USA - March 6 2013 On March 1, 2013, the SEC released a 72-page request (available here) for cost/benefit data and other information relating to different standards of…

Tom Lauerman

NAIC reveals annuity products game plan for 2013

USA - February 15 2013 Several NAIC working groups are set to tackle a host of issues impacting annuity products in 2013. These initiatives reflect the importance that…

Duty of care to turn on consumers’ “reasonable expectations”

USA - February 15 2013 2013 will see changes to the duty of care owed by those who provide financial or investment advice or provide financial products to consumers. It…

Scott C. Shine