Regulatory Updates

Effective December 13, 2024, Delaware will update Post Office Box and Private Mailbox address validation rules for individuals and business entities. - PO Box and Private Mailbox (PMB) are not permitted in the Residence / Business address field. - PO Box and Private Mailbox (PMB) are permitted in the Mailing address field.

Posted November 13, 2024, NASAA announced changes in January 2025 to the Electronic Filing Depository (EFD). The changes include migration to the commercial cloud, a new system URL, and new system support contact information.

EFD users should be aware of the following important announcements and changes. - System Availability: In order to accommodate the change to the cloud, EFD will not be available between January 1 - January 5, 2025. If filings are due during those days, they must be submitted no later than midnight, EST, on December 31, 2024. The migrated EFD will begin accepting filings at 9 a.m. EST on January 6th. - New Website: The migrated EFD will be hosted on a new website at nasaaefd.org. EFD users should plan to make all filings and payments through the new website after December 31, 2024. 

Please use the link below for more information. NASAA Post

Effective April 29, 2025, Pennsylvania is removing the resident license requirement of needing pre-license education credits. Pennsylvania is also adding Ethics and Flood requirements for renewal.  For each license, at least 3 of the 24 required CE hours must be about ethics. - If you're licensed before 4/29/2025, you must complete the ethics requirement by 4/29/2026 or by the end of your current license period (whichever is later). - If you're licensed on or after 4/29/2025, you must complete the ethics requirement by the end of your first license period. For property and casualty licensees, at least 2 of the 24 CE hours must be about flood insurance. - If you're licensed before 4/29/2025, you must complete the flood insurance requirement by 4/29/2026 or by the end of your current license period (whichever is later). - If you're licensed on or after 4/29/2025, you must complete the flood insurance requirement by the end of your first license period.

Effective January 1, 2025, Colorado Department adopts setting necessary disclosure requirements for surplus lines insurance contracts around non-admitted insurers. Please see the attachment for more information. 

Effective January 1, 2025, Alabama will now require a nonresident surplus line broker to have on file a bond for $50,000 to remain in good standing for the duration of their license. Please see the attachment for more information. 

Posted November 4, 2024, North Carolina sent out an advisory memorandum reminding producers/agents that using the “NPN override” feature available on platforms violates North Carolina insurance laws and is not permitted. NPN Override is the practice that allows agents to submit applications under appointed agents' NPNs. Some insurance agencies assign certain agents to handle the necessary paperwork with Marketplace insurers. At the same time, these agencies employ other agents who are not officially appointed with the Marketplace insurers. These unappointed agents help customers apply for Marketplace plans or request changes by using the appointed agents' National Producer Numbers (NPNs). Please see the attachment for more information.

Posted November 7, 2024, Oklahoma sent out a notice about the upcoming 2024 appointment renewal process. The notice informs carriers that all appointment renewals must be done electronically. Either via: - The Uniform Certificate of Authority Application (UCAA) - Only for those specific categories listed on the form - NIPR - The notice also lists key dates for renewal, invoices will be available for payment from November 25, 2024 – January 2, 2025. The termination deadline is November 15, 2024. Please see the attachment for more information.

Update: Posted November 14, 2024, The invoice payment date will be available for payment from November 25, 2024 – December 31, 2024.

Posted on November 5, 2024, FINRA posted a notice providing the due dates for:  - Annual Report - Financial and Operational Combined Uniform Single (FOCUS) - Form Custody - Supplemental FOCUS Report

Filings are due in 2025 or the first quarter of 2026. FINRA reminds members that all filings they submit to FINRA must be made electronically through FINRA Gateway. Please see the link below for those dates - Notice-110524

Posted October 31, 2024, FINRA communicated information about renewal fees of broker-dealer (BD) and investment adviser (IA) firms - **Preliminary Statements**: Starting November 11, 2024, FINRA will post preliminary statements for BD and IA firms in E-Bill. These statements show any renewal fees for BD and IA registrations through the CRD and IARD programs. - **Final Statement**: A final statement will be posted on January 2, 2025, to confirm and reconcile the actual renewal fees for BD and IA firms, branches, and individuals. For more information, please use the following link - FINRA Notice

Posted November 5, 2024, Ohio is seeking public comment on proposed amendments around procedures and requirements for the licensing and appointment of insurance agents in Ohio. These amendments also identify lines of authority eligibility for limited lines licenses. Comments are due on or before November 20, 2024. Please see the attachment for more information.

To comment on one of these rules please visit  or send an email to ecomment@insurance.ohio.gov. For questions regarding these rules please call 614-644-2640.