News & Analysis as of

Annuities Financial Adviser

Kohrman Jackson & Krantz LLP

What the SECURE 2.0 Act Means for Your Retirement Savings

At the very end of 2022, President Biden signed the $1.7 trillion omnibus spending package which includes the SECURE 2.0 Act. SECURE 2.0 builds on The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019...more

Kramer Levin Naftalis & Frankel LLP

NY DFS to Impose New Limits on Variable Products

Insurers writing variable annuities in New York will want to focus on newly proposed requirements from the New York Department of Financial Services (DFS) on separate account contracts...more

Carlton Fields

Defendants Not Liable for Insurance Agent’s Ponzi Scheme

Carlton Fields on

A California appellate court recently affirmed the dismissal of claims against multiple insurers made by victims of a Ponzi scheme that was orchestrated by an independent insurance agent....more

Polsinelli

'Fiduciary Rule' Update: Financial Services Industry Should Prepare for Compliance

Polsinelli on

The U.S. Department of Labor (DOL) scored an initial victory in what is sure to be a long legal battle over the so-called "fiduciary rule." Judge Randolph D. Moss of the U.S. District Court for the District of Columbia issued...more

Ballard Spahr LLP

CFPB takes another challenge to its jurisdiction to court

Ballard Spahr LLP on

The CFPB filed suit against J.G. Wentworth, LLC on June 7, 2016 after the company challenged the Bureau’s expansive view of its jurisdiction. The CFPB served a CID against J.G. Wentworth, LLC on September 11, 2015 to...more

Carlton Fields

Perks, Prizes, and Loopholes: Sen. Warren’s Report on Annuity Sales Practices

Carlton Fields on

This past April, Sen. Elizabeth Warren (D-MA) opened an investigation into annuity sales practices by issuing surveys to 15 insurance companies responsible for 71 percent ($168 billion) of total 2014 industry sales. The goal...more

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