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Regulatory Issues

AIG Failure Fuels Regulatory Turf War

November 2008 - The Federal Reserve's bailout of American International Group has revived the debate about whether the federal government should regulate insurance companies.

On the Road to STP: October 2008

October 2008 - Electronic signing of electronic documents produces a truly 'paper-free' STP process, which will reduce errors, compress process time, and assure a transparent, expeditious, and error-free outcome.

The State of STOLI Laws

October 2008 - Recent amendments to the Viatical Settlement Model Act prohibit the sale of a life insurance policy for five years except in cases of terminal illness.

Putting a Freeze on STOLI (Not the Vodka)

October 2008 - Baby Boomers with in-force life insurance but inadequate savings are the target market of the burgeoning but much-criticized life settlement industry.

Life Settlements: The Movie

October 2008 - The hero of my latest screenplay is an 82-year-old man with a $1 million life insurance policy. He's pursued by bloodthirsty beneficiaries and a pack of life settlement salespeople.

On the Road to STP

September 2008 - Developed by IBM and NAVA, the STP Reference Model provides a framework for implementing the NAVA STP Standards by annuity distributors and insurance carriers.

The Loud Snorer Down the Hall

September 2008 - Here are some of the opinions about proposed SEC Rule 151A expressed over the phone and on the SEC website by aggrieved indexed annuity partisans.

On the Road to STP August 2008

August 2008 - Obtaining acceptance from state insurance regulators is a key objective of NAVA's Straight-through Processing (STP) Standards initiative.

SEC Poised to Regulate Index Annuities

August 2008 - Last June 25, the SEC approved a proposal that would, for the first time, classify index annuities as federally regulated securities.

On the Road to STP - July 2008

July 2008 -

Next Fall's Election Colors the NAVA Conference Mood

July 2008 - Washington, DC--The keynote address of the 2008 Compliance and Regulatory Affairs Conference was delivered not by someone from the annuities industry but instead by political pundit Robert Novak.

Hybrid Income Products Breed Concern Among State Regulators

June 2008 - Applications for a flurry of new investment products, in which guaranteed lifetime withdrawal benefits (GLWBs) are attached to managed accounts, lie pending before the Securities and Exchange Commission. But state insurance and securities regulators in some states, including New York, Florida and Alabama, have concerns about the products, which straddle the line between investments and insurance.

On the Road to STP

May 2008 - Last March, 32 members of the NASA-FSI working group met in Dallas to agree on an STP process for independent broker/dealers and to plan their next activity.

Research Watch

May 2008 - By claiming Social Security benefits later, married men would improve the retirement income security of their surviving spouses, according to a report from the Center of Retirement Research at Boston College.

Tax Forecast for GRIS: Partly Cloudy

May 2008 - The IRS has not yet ruled on the taxability of the new hybrid investment/insurance products, such as the Phoenix-Lockwood managed account with a lifetime income guarantee.