NAIFA Submits Comments to Treasury on Regulatory Reform
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Lee Allen
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On Wednesday, November 26, the National Association of Insurance and Financial Advisors (NAIFA) submitted comments to the Department of Treasury about the need for changes to the regulatory structure related to financial institutions. In conjunction with sending the comments to Treasury, NAIFA released the following statement:
"Today, NAIFA submitted comments to the Department of Treasury on the need for insurance regulatory reform," said Jeffrey J. Taggart, CLU, ChFC, LUTCF, President of NAIFA. "NAIFA’s comments emphasized that despite the solid efforts made by the states to improve the current regulatory system, it has become increasingly clear that the state system needs help. NAIFA believes it is imperative that the problems and inefficiencies in the state regulatory system be corrected quickly, and supports the active involvement of the federal government in the reform process. Regulatory improvements will ultimately benefit the consumers we serve."
Founded in 1890 as the National Association of Life Underwriters, the National Association of Insurance and Financial Advisors comprises 770 state and local associations representing the business interests of 225,000 members and their employees nationwide. Members focus their practices on one or more of the following: life insurance and annuities, health insurance and employee benefits, multiline, and financial advising and investments. NAIFA's mission is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of its members.