The Compliance Digest

Get expert compliance tips and up-to-date regulatory news.

States Race Forward with NAIC Best Interest Adoption

Several more states are moving quickly to add a best-interest annuity sales standard to its regulation of insurance products. The latest states to adopt the best-interest model law put forth by the National Association of Insurance Commissioners are Alabama and Michigan. Read More

Four Takeaways from our Exam Priorities Webinar

Joined by Foreside Financial Group’s, Myles Blechner and Ginny Voos, Quest CE hosted a webinar to discuss some of the challenges compliance officers and firms faced in 2020, as well as some of the top takeaways from this year’s examination priorities letters. Here are some of the top takeaways from the presentation. Read More

Are you Doing This One Thing on your Form CRS?

The Securities and Exchange Commission (SEC) has released updated frequently asked questions guidance on the customer relationship summary, or Form CRS, that narrows in on a very specific area of disclosure - your firm’s disciplinary history. Read More

FINRA Tackles What’s Next for Reg BI in New Podcast

According to FINRA's podcast, initial reviews will focus on whether firms have put in place policies, procedures and training. Read More

MSRB Proposes Rule Changes to Align with Reg BI

Both FINRA and the MSRB have proposed several rule changes to better align their regulation with the SEC's Regulation Best Interest ("Reg BI"). Read More

FINRA Publishes Guidance on Reg BI and Form CRS

FINRA has issued new resources to assist financial firms in their efforts to comply with the SEC’s Reg BI and Form CRS by the rules’ compliance date of June 30, 2020. Read More

Complying with NY’s Reg 187 Training Requirement

Producers selling annuities in New York face one significant change after the state’s best-interest standard took effect in August: training. Read to learn how to comply with the training requirement. Read More

FINRA Creates Online “Information Hub” for Reg BI

The Financial Industry Regulatory Authority (FINRA) has created a Regulation Best Interest webpage to help broker-dealers comply with the Securities and Exchange Commission’s rule, and is urging broker-dealers to submit questions to the securities regulator about Reg BI and the agency’s customer relationship summary, Form CRS, to IABDQuestions@sec.gov. Read More

Reg BI Gets “Green Light” from SEC

Ready or not – here it comes. On June 5, 2019, the SEC held a meeting which resulted in the adoption of the long-debated proposal called Regulation Best Interest (Reg BI). Read More