Reminder: New State Implementation for Annuity Suitability: MA, WV, GA, & WY

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. 

State Implementation Effective 06/01/2023: MA, WV

State Implementation Effective 07/01/2023: GA, WY

Please Note: New MN Forms Live July 1