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Departure of DOL Secretary May Delay Fiduciary Rule Rewrite

The resignation of DOL Secretary Alexander Acosta on July 12 may impact the agency's rewrite of its controversial fiduciary duty rule, as it's unclear whether an Acting Secretary─not confirmed by the Senate, in other words─would be comfortable taking on such a notorious project. According to the timeline that Secretary Acosta had announced prior to his resignation, the DOL was scheduled [...]

By | July 12th, 2019|Categories: News Alerts|0 Comments

NAIFA-NYS Announces New Leadership Team

NAIFA-NYS Announces New Leadership Team to Strengthen the Voice of Life Insurance Agents in New York Albany, New York, July 3, 2019 — A new leadership team of financial professionals from across New York State has taken charge of the National Association of Insurance and Financial Advisors-NYS (NAIFA-NYS), giving an even stronger, more energized voice to the association’s advocacy and [...]

By | July 3rd, 2019|Categories: Member News, New York Issues|0 Comments

NYS Assembly Passes Our CE Credit Bill, 101-0

On June 18, the New York State Assembly approved unanimously—in a 101-0 vote—the NAIFA-NYS continuing education (CE) credit bill.  The legislation, which passed the NYS Senate 60-0 on June 7, would require the Superintendent of the Dept. of Financial Services (DFS) to grant three (3) CE credits to active members of insurance producer associations—including NAIFA-NYS—that operate throughout New York. The [...]

By | June 18th, 2019|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|0 Comments

NYS Senate Passes Our CE Credit Bill, 60-0

In the afternoon of Tuesday, June 4 the NYS Senate passed our Continuing Education Credit bill (S4365) in a 60-0 vote — a big win for NAIFA-NYS advocacy.  The bill would grant three (3) CE credits for active membership in a "statewide professional insurance producer association" like NAIFA-NYS and would define such as organization as one that, among other things: [...]

By | June 7th, 2019|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|0 Comments

U.S. House Passes SECURE Act, 417-3

In a resounding show of bipartisan support, the U.S. House of Representatives passed this morning the Setting Every Community Up for Retirement Enhancement (SECURE) Act, or HR 1994, by a vote of 417-3.  The bill takes a multi-faceted approach to promoting employer-based retirement programs by allowing small employers to band together and create multiple employer plans (MEPs); encouraging auto-enrollment; giving [...]

By | May 23rd, 2019|Categories: News Alerts|0 Comments

DFS Announces New Cybersecurity Division

The Department of Financial Services (DFS) announced on May 22 the creation of its new Cybersecurity Division, to be led by a former U.S. Attorney whose area of expertise is cyber crimes.  The Division, which DFS calls the "first of its kind to be established at a banking or insurance regulator", will enforce the DFS cybersecurity regulation and issue related [...]

By | May 22nd, 2019|Categories: News Alerts|0 Comments