Vermont
Vermont Department of Financial Regulation Approves Legislation for Suitability in Annuity Transactions
Effective January 11, 2024, Vermont adopted regulation for suitability in annuity to require producers to act in the best interest of consumers.
Section 6 of the new regulation indicates insurers and producers are to act in the best interests of the consumer when a recommendation is made without placing the producer’s or the insurer’s financial interests ahead of the consumer’s interest. Please see the attached document to learn more about the new regulation.
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analyzed
pending
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This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
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analyzed
Our compliance experts have identified the update and analyzed it for impact on both the industry and AgentSync products.
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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).