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NY Adopts Best Interest Rule for Insurance Sales

Friday, Jul 20 2018
Regulatory & Compliance
Written by  PFA News

The New York State Department of Financial Services implemented a “best interest” standard for advisors who sell life insurance and annuity products. So reports NAPA.

This standard comes in the aftermath of an appeals court eliminating the Department of Labor’s conflict of interest rule. As part of the new regulation, insurers must create procedures to supervise agents’ sales of insurance and annuity products.

Read the full article from NAPA.

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