8e. BD/IA – Insurance Compliance: Balancing State and Federal Regulations (Intermediate - OPEN)

Insurance agents and insurance companies walk fine lines between the largely federal securities world and the world of state regulation and between products federally regulated as securities and products state regulated as insurance.  There are cross-over areas where insurance agents become registered representatives and/or IARs complicated by life and annuity products sold as variable, fixed or in the world of indexed. 

This session is open to regulators but closed to members of the press.

Learning Objectives:

• Discuss complex product types including variable, fixed, and indexed and the clients they are sold to, e.g., individuals, legal entities, and pension plans.

• Hear about the interplay between supervision of registered activities, from a broker dealer and registered investment advisor perspective and the outside business activity of insurance, including the interplay between insurance and state requirements.

• Gain an understanding of the implications of the Department of Labor’s proposed Retirement Security rule proposal, including the broadened definition of an investment advice fiduciary and significant revisions to PTE 84-24.

• Consider supervision of personnel engaged in insurance sales, their compensation structures, conflicts of interest, and employment versus independent contractor issues.

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