Wisconsin
Wisconsin's Best Interest Law Announcement
On April 15, 2022, Wisconsin released the Best Interest Law (2021 Wis. Act 260). This law revised the annuity suitability standards to better protect consumers of the annuity products. These changes will take effect on Oct 1, 2022.
This announcement includes points on the following: Care obligation, disclosure obligation, conflict of interest obligation, documentation obligation, insurer's supervisory responsibility, comparable standards, training, insurer responsibility, and effective date.
AgentSync Actions
Our compliance experts are constantly searching for and analyzing industry updates.
Their findings are then recorded in the Regulatory Updates section of the Compliance
Library to explain how the update impacts the insurance industry. If a change
impacts an
AgentSync product, this will be highlighted to inform you that the product is being
updated to ensure you remain in compliance.
analyzed
pending
effective
This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
categories
General
analyzed
Our compliance experts have identified the update and analyzed it for impact on both the industry and AgentSync products.
pending
The time between the update's publication date and effective date.
effective
The date the update takes effect.
released
This means an AgentSync product was updated as a result of this change and the update is now live in our product(s).