The Greater Metro Region (GMR) is rebuilding itself after years of “hibernation”, and the latest GMR legislative event, held on June 1 in Uniondale, proved that, slowly but surely, GMR members are coming back. The breakfast featured no-holds-barred discussion of the DFS amendments to the Regulation 187 suitability rule–amendments that create a “best interest” requirement for in-force transactions related to life insurance and annuities and, among other things, exempt direct sales. NAIFA-NYS government relations staff explained what the proposal would do, what NAIFA-NYS has been doing, what options individual NAIFA-NYS members have, and what’s motivating DFS. The event was an eye-opener for attendees–and one more reason why GMR participation is so critical.
GMR Legislative Breakfast (June 1, 2018) naifa-nys