Newsflash: Contract Amendment Mailing

June 1, 2017

The Standard will be sending a cover letter and sales contract amendment to each producer licensed to sell annuities with us, in anticipation of the DOL rule going into partial effect as of June 9, 2017. The amendment is meant to be kept with your records.

The expanded definition of Investment Advice Fiduciary, along with the Impartial Conduct Standards, will go into effect as of June 9, 2017 while additional compliance regulations will be delayed until January 2018.

When working with your clients' retirement accounts, you must:

  • Provide advice in your client's best interest
  • Earn no more than a reasonable compensation
  • Avoid making materially misleading statements

The sales contract amendments will be mailed on June 2, 2017 from the Portland, Oregon home office.

 

Category: 
Industry News / Producer Advisories