News

After Fifth Circuit Vacates Fiduciary Rule, NAFA & DOL Agree to Drop Lawsuit

WASHINGTON (Mar. 24, 2018) —  Late yesterday, the National Association for Fixed Annuities Board of Directors announced it is withdrawing its lawsuit challenging the Department of Labor “Fiduciary Rule.” In a filing with the U.S. Court of Appeals for the D.C. Circuit, NAFA and the United States Department of Justice agreed to a voluntary dismissal [...]

Fifth Circuit Strikes Down Fiduciary Rule

Circuit Court Rules in Favor of Americans Planning for Retirement
Today, March 16, The National Association for Fixed Annuities released the following statement on a decision by the U.S. Court of Appeals for the Fifth Circuit regarding a legal challenge to the Department of Labor’s fiduciary rule:
“The court’s decision ensures that millions of Americans will have [...]

NAFA Announces Search for New Executive Director

 
WASHINGTON (Mar. 6, 2018) — The Board of Directors for the National Association for Fixed Annuities, NAFA, announced yesterday that they are beginning a search for a new Executive Director. After careful consideration of the association’s long-term goals, which will focus on growth, expanded advocacy and engagement on behalf of fixed annuities and the annuity industry, [...]

NAFA Files Comment Letter to NY Dept. of Financial Services

Washington (Feb. 26, 2018 – NAFA submitted a comment letter to the New York Department of Financial Services regarding the Department’s proposed First Amendment to NY Insurance Regulation 187, Suitability in Life Insurance and Annuity Transactions (11 NCRR 224).  The proposed amendment would greatly expand the current NY regulation to apply not only to annuity [...]

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 [...]