- 11,388
If you haven't heard this, this is GREAT NEWS!!
Initially, I thought that the passing of SB263 was horrible... until I realized it was the ADJUSTED SB263 to model NAIC best interest standards, NOT the originally proposed Fiduciary Bill requiring up to 10 years of commission disclosure!
This should ALSO mean a slowing down of the proposed DOL ruling.
www.thinkadvisor.com
Initially, I thought that the passing of SB263 was horrible... until I realized it was the ADJUSTED SB263 to model NAIC best interest standards, NOT the originally proposed Fiduciary Bill requiring up to 10 years of commission disclosure!
This should ALSO mean a slowing down of the proposed DOL ruling.
![www.thinkadvisor.com](/community/proxy.php?image=https%3A%2F%2Fimages.thinkadvisor.com%2Fcontrib%2Fcontent%2Fuploads%2Fsites%2F415%2F2024%2F02%2F2024-2-29-gavin-newsom_Newsom_640x640.jpg&hash=47f064a7af3626727591401006e91f4d&return_error=1)
California Governor Signs Annuity Best Interest Sales Rule Bill | ThinkAdvisor
Gavin Newsom's support for the NAIC approach could stop the DOL fiduciary definition proposal.
![www.thinkadvisor.com](/community/proxy.php?image=https%3A%2F%2Fwww.thinkadvisor.com%2Ffavicon-32x32.png&hash=d4c3092de2d2103cbe734def58d44153&return_error=1)