The FACC Campaign is grateful to Congressmen Stivers & Cleaver and thanks them for their support and thoughtful letter to Secretary Acosta!
The FACC Campaign is an unincorporated alliance of insurance agents, independent marketing organizations, insurers, and industry advocates seeking to protect the availability of fixed annuities by ensuring any standard of conduct regulations adopted by applicable regulators recognize and appropriately align with fixed annuity distribution through independent agents and marketing organizations.
While the Scottrade case and these various pronouncements generally are directed at the securities industry, not fixed annuities, the implications are deeply worrisome. The Fixed Annuity Consumer Choice (FACC) Campaign is concerned these developments prove the U.S. Department of Labor is losing control over the rule and unleashing uncontrolled forces such as hyper-aggressive state regulators and the always profit-hungry plaintiff’s bar that may wreak havoc on the financial services industry.
No, we don’t mean to your special someone. We mean “get engaged” in our campaign to save the future of fixed indexed annuities! The origin of the word “engage” can be traced back to the early 17th century and comes from the French “engager” which literally means ‘to...
We are very pleased to announce that Senator David Perdue has agreed to be primary author of a letter to Secretary Acosta similar to the House of Representatives Stivers and Cleaver letter to Secretary Acosta. This is a very big step forward in the FACC Campaign’s...
The FACC Campaign is concerned many agents and distributors are not aware of THREE VITAL FACTS: 1. DOL HAS NOT YET ISSUED A DELAY – the Office of Management & Budget approved the proposed delay in near record time but we have heard nothing formally from DOL as of...
The FACC Campaign is grateful to Congressmen Stivers & Cleaver and thanks them for their support and thoughtful letter to Secretary Acosta! July 2017 The Honorable Alexander Acosta Department of Labor Secretary 200 Constitution Avenue NW Washington, D.C. 20210...
Phoenix, AZ, September 21, 2017 – Annuity proponents have formed a new group to campaign for protecting fixed annuities in the ongoing battle over the Department of Labor fiduciary rule. See Coverage Here The newly formed group, the Fixed Annuity Consumer Choice...
Please take one minute to stand up and be heard on the Fiduciary Rule. Please sign a letter of petition to Department of Labor Secretary Alexander Acosta urging him to delay implementation of the Fiduciary Rule exemptions. Join our campaign to extend the transition...
The last few days have seen a flurry of activity! The most recent new items are:
August 29 – Office of Management & Budget (OMB) approval of the DOL’s request for an 18-month delay to the Rule.
August 30 – DOL issued an official announcement of the delay and has given 15 days for public comment.
August 30 – DOL published Field Assistance Bulletin 2017-03 stating it won’t enforce a provision of the BICE’s arbitration ban.
The silence at the Department of Labor is LOUD. The DOL sent its request for delay to the Office of Management & Budget 12 days ago and since then we have heard nothing. But, don’t think the silence means that victory is upon us – IT IS NOT! The news of the...
The Rumors of the DOL Rule’s Death are Highly Exaggerated! The shot heard across the nation last Wednesday was the sound of a DOL proposal to delay further implementation of the fiduciary-rule exemptions until July 2019. The Department’s proposal to extend the Jan. 1 effective date for the remaining portions of the exemptions was first disclosed in documents released Wednesday in a court challenge Thrivent Financial for Lutherans v. Perez.
Dwight Carter FSA
Fixed Annuity Choice – Steering Committee
Eric Marhoun – F&G Life
Paul Garofoli – National Western Life
Kim O’Brien – AAP
Andrew Unkefer – Unkefer & Associates