News

NAFA Files Comment Letter with NAIC

On Monday, Jan. 22, NAFA submitted a comment letter to the NAIC, Annuity Suitability Working Group in response to their request for feedback on proposed revisions to the NAIC Suitability in Annuity Transactions Model Regulation (#275).  The proposed draft would amend the current model rule to include a new Best Interest Standard of Conduct.  NAFA’s [...]

NAFA Welcomes 2018 Board of Directors

New Leadership Poised to Continue Fight against Unnecessary Regulatory Overreach
WASHINGTON (Jan. 15, 2018) — The general membership of NAFA, the National Association for Fixed Annuities, approved recommendations for its newly elected 2018 board of directors at the association’s annual meeting held recently in San Diego, Calif. Nominations were received from the membership at large, and [...]

Financial Advisor “Despite Delays, DOL Rule Becoming Law Of The Land, Expert Argues”

DECEMBER 1, 2017 • TRACEY LONGO
“Yes,” National Association for Fixed Annuities Counsel and Director of Government Affairs Pam Heinrich said when asked if the association would proceed with its lawsuit to vacate the DOL rule, even after the agency’s 18-month delay. “Absent changes on how the rule will go into effect in July 2019—something that hasn’t happened [...]

VeriFyle and the National Association for Fixed Annuities Announce a Partnership to Provide Secure Communications Platform to Members

Dear NAFA Members,
As the number of cyber attacks on small and mid-sized businesses continues to rise, NAFA is taking a proactive approach to helping members protect themselves, their producers and their clients.
Beginning on October 31st, all NAFA members will be eligible to sign up for VeriFyle ProTM, a secure document-sharing and messaging service, with patented [...]

NAFA Strongly Supports the Proposed 18-Month Delay

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 [...]

NAFA Pushes for Uniform Treatment of All Fixed Annuities in Response to DOL RFI

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 [...]

NAFA Urges DOL to Delay January 1, 2018 Fiduciary Rule Applicability Date

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 [...]

NAFA Announces 2017 Board of Directors

WASHINGTON (Dec. 8, 2016) — The general membership of NAFA, the National Association for Fixed Annuities, approved recommendations for its newly elected 2017 board of directors at the association’s annual meeting held recently in Phoenix, Ariz. Nominations were received from the membership at large, and candidates were thoroughly vetted by the current board before being [...]

Chairman Hensarling Reacts to Decision on Fiduciary Rule

Washington, May 23, 2017 -
House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement regarding today’s decision by the Department of Labor on the controversial fiduciary rule:
“I was there in the Oval Office when President Trump signed his Presidential Memorandum on the Obama administration’s fiduciary rule. I don’t see how the Department of [...]

Roe Statement on the Implementation of the Fiduciary Rule

WASHINGTON, D.C. – Today, Rep. Phil Roe, M.D. (R-TN) released the following statement in response to Labor Secretary Alexander Acosta’s decision to allow the fiduciary rule to partially take effect June 9, 2017:
“The misguided, Obama-era fiduciary rule drives up the cost of investment advice for low- and middle-income investors and makes it harder, not easier, for [...]