NAIC Annuity Suitability Model State Implementation Effective 03/01/22 for CT & VA

The NAIC recently proposed the adoption of a revised Annuity Suitability Model Law. Separately, the U.S. Securities and Exchange Commission (SEC) released a proposed rule package in May 2018, which included Regulation Best Interest (Reg BI). The SEC finalized Reg BI in June 2019. The final Reg BI establishes a best interest standard of conduct for broker-dealers beyond the existing suitability obligation that applies to federally registered variable annuities.

Please Note State Implementation Effective 3/1/2022: CT & VA

Download the current List of States that have adopted the revised model for more information.