DOL Issues Notice of Proposed BICE for Insurance Intermediaries

Loading...
Home | Contact CEFLI | Login

About CEFLI Industry News

Events CEFLI News

Search

The Forum

Resources

News Center

Newsletter Archive

DOL Issues Notice of Proposed BICE for Insurance Intermediaries. Today, the DOL published in the Federal Register a Notice of a Proposed Best Interest Contract Exemption (BICE) which would allow insurance intermediaries (such as independent marketing organizations (IMOs)) and the insurance agents and the insurance companies they contract with to receive commission compensation in connection with fixed annuity transactions (including indexed annuities) when providing investment advice to IRAs and retirement plans. Several IMOs (22 to date) have applied to become a “financial institution” under the DOL Fiduciary Rule. The Proposed Best Interest Contract Exemption for Insurance Intermediaries would grant “financial institution” status to IMOs if they abide by certain conditions without having to file individual applications.

Industry News NAIC Introduces Best Interest Standard DOL Sends Request for Extension of Transition Period to OMB NYDFS Requests Information on Data Use DOL Will Not Delay June 9 Effective Date.

About CEFLI

Membership Inquiry

Events

Clearinghouse

Join Our Email List

Quick Contact P.O. Box 30940

The Forum

Bethesda, MD 20824

Resources

240-744-3030

News Center

Email Us

© 2010–2017, The Compliance & Ethics Forum for Life Insurers | Contact Us

Loading...

DOL Issues Notice of Proposed BICE for Insurance Intermediaries

Home | Contact CEFLI | Login About CEFLI Industry News Events CEFLI News Search The Forum Resources News Center Newsletter Archive DOL Issues ...

125KB Sizes 6 Downloads 14 Views

Recommend Documents

No documents