twitter facebook linkedin

Fiduciary Rule-Related Updates

Sept. 15, 2017- NAFA, the National Association for Fixed Annuities, submits this letter in strong support of the Department of Labor’s proposed 18-month extension of the current transition period and delay of the applicability dates for the Best Interest Contract Exemption (PTE 2016-01), the Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs (PTE 2016-02), and the Prohibited Transaction Exemption 84-24 (PTE 84-24) as set forth in the Department’s recent Notice of Proposed Rulemaking.

View Comment Letter here.

Aug. 9, 2017 — In response to the U.S. Department of Labor’s (DOL’s) request for information (RFI) issued July 6, NAFA, the National Association for Fixed Annuities, submitted a comment letter outlining recommended revisions to the fiduciary rule and its prohibited transaction exemptions. Specifically, the letter provides the Department with rationale for expanding the scope of PTE 84-24 to cover fixed indexed annuities as well as fixed rate annuities.

View the comment letter here.

July 25, 2017- In a letter submitted to the U.S. Department of Labor, NAFA, the National Association for Fixed Annuities, is urging the Department to extend the January 1, 2018 implementation date of the fiduciary duty rule (“the Rule”).  NAFA’s comment letter was filed in response to a July 6, 2017 Request for Information in which the Department sought input regarding the advisability of extending the January 1, 2018 applicability date of certain provisions of the Rule relating to the prohibited transactions exemptions, including the Best Interest Contract (“BIC”) Exemption and PTE 84-24.

View the comment letter here.

Log in as a NAFA member to follow key coverage of this issue, as well as NAFA's advocacy on behalf of the fixed annuity marketplace, and stay up to date on how you can help protect your business from this unworkable regulation.

Not a member? Sign up today for access to this information and other valuable members-only benefits!

Donate to NAFA's DOL Legal Action Fund

As a NAFA member, you can be part of the solution to this problem by contributing to our NAFA legal action fund HERE.  Without your contribution, we will not be able to formally challenge this rule, and it is entirely possible that the rule will survive and cause irreversible damage to the fixed annuity industry.  To learn more, click HERE.

Donate Now

About NAFA

NAFA, the National Association for Fixed Annuities, is the premier trade association exclusively dedicated to fixed annuities. Our mission is to promote the awareness and understanding of fixed annuities. We educate annuity salespeople, regulators, legislators, journalists, and industry personnel, about the value of fixed annuities and their benefits to consumers. NAFA’s membership represents every aspect of the fixed annuity marketplace covering 85% of fixed annuities sold by independent agents, advisors and brokers. NAFA was founded in 1998.

View the latest issue of NAFA Annuity Outlook Magazine.

Membership

At NAFA, membership truly has its privileges. Join us in our quest to advocate the fixed annuity product. We have several levels of membership — there's sure to be one that fits your budget. If you're already a member, learn more about our membership renewal options.

Get active and receive fixed annuity industry updates.

Supporting Members (Annuity Professionals)Click the Button Below to Join Online! (or here for payments via check)

Join Now

To Renew your NAFA Membership:

  • Please login to the NAFA membership website and access your “profile”, located in the upper right hand corner next to “log out”.  Scroll down to the “subscription information” and click the “extend/renew” link next to your “expiry date” and follow the steps through the payment gateway to complete the transaction.  You will not lose your user name or access credentials during expiration or the renewal process.