Regulatory Updates
The world of insurance compliance regulation is ever-changing. But that’s no reason to fret. Keep up with regulatory updates here in our live feed. With relevant changes to licensing, appointments, continuing education rules, and more, you can take a proactive approach to maintaining your organization’s compliance requirements.
July 25th , 2022
Effective:
August 11th , 2022
August 11
Missouri
Missouri Travel Licensing
Language surrounding Missouri Travel Licensing has been updated. Effective August 11, 2022, any insurance producer license with a major line, licensed MGA, or TPA is eligible for a Travel line of authority.
Effective
July 22nd , 2022
Effective:
July 22nd , 2022
July 22
New Mexico
New Mexico Adjuster Licensing Requirements
New Mexico releases a bulletin outlining when Designated Home State licenses are not accepted in initial licensing and renewals.
Effective
July 20th , 2022
Effective:
August 12th , 2022
August 12
Georgia
Update to Georgia Adding a New Line of Authority
Effective on August 12, 2022, Georgia will add the _Agent - Georgia Access_ LOA for R, NR, RLR, and NRLR. A new background question will be added for R and NR applications.
Released
July 20th , 2022
Effective:
September 24th , 2022
September 24
Arizona
Arizona Updates Conditions for Waived Licensing Fees
Effective September 24, 2022, Arizona will waive the initial license fee for an individual whose family income does not exceed 200% of the federal poverty guidelines, active-duty military member's spouse, or for an honorably discharged veteran discharged no more than 2 years before the application.
Effective
July 18th , 2022
Effective:
August 12th , 2022
August 12
North Carolina
North Carolina Changes to Adjuster License Types
On August 12, 2022, North Carolina will convert their Company/Independent Adjuster and Self-Employed Adjuster license type to be the Adjuster license class. The LOA will now be "Not Applicable". This will impact the following transaction types: RL, RLR, NRAL, NRAR, NHS, and NHSR.
Released
July 18th , 2022
Effective:
July 18th , 2022
July 18
Wisconsin
OCI Posts Administrative Actions for June 2022
The OCI holds the responsibility of enforcing insurance laws in Wisconsin. Every month, they publish the administrative actions taken against individuals and companies.
Effective
July 18th , 2022
Effective:
July 21st , 2022
July 21
N/A
NASAA & FINRA to Present Changes to IAR CE Program
On July 21, 2022, NASAA and FINRA plan to present recent system enhancements to the Investment Advisor Representative (IAR) Continued Education (CE) program.
Effective
July 18th , 2022
Effective:
July 07th , 2022
July 07
North Carolina
North Carolina to no Longer Require Broker Licenses
Effective July 7, 2022, North Carolina removed the broker requirement for residents and nonresidents. In this, the requirement to hold a bond is also cancelled. An agent has always been allowed to act as an agent in which they are duly appointed. Now, producer may procure insurance through a duly authorized agent without a broker license.
Effective
July 18th , 2022
Effective:
July 18th , 2022
July 18
N/A
FINRA Proposes a Rule Change that Allows Inspections to Residential Supervisory Locations
FINRA is proposing a change to Supplementary Material .19. This proposed change aligns with FINRA Rule 3110 and aims to add safeguards and limitations within private residences (non-branch locations) of an associated person engaging in specified supervisory activities. This would therefore make those locations subject to inspection about every 2-3 years.
Effective
July 15th , 2022
Effective:
July 15th , 2022
July 15
South Dakota
South Dakota Changes Annuity CE Requirements
This change impacts both existing resident and nonresident producers. Those that complete an annuity training by January 1, 2023, must also complete a new Annuity Best Interest four credit class or an additional 1-time, 1-credit course prior to July 1, 2023. New producers after January 1, 2023 must take the four credit course.
Effective
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Disclaimer - AgentSync does not warrant to the completeness or accuracy of the information provided in this database. You are responsible for ensuring the accuracy and totality of all representations, assumptions, information and data provided by AgentSync to you in this database. The information in this database should not be construed as legal, financial, or other professional advice, and AgentSync is not responsible for any harm you sustain by relying on the information provided herein. You acknowledge and agree that the use of this information is at your own risk. You should always consult with the applicable state and federal regulatory authority to confirm the accuracy of any of the information provided in this database.
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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).