02.23.24
California Senate Approves Bill Requiring 'Best Interest' Standard on Annuity Sales
by: Terrance Dopp
The California Senate gave final approval to legislation changing disclosure regulations and annuities sales by agents. Under terms of the bill, producers would be required to act in the best interests of clients by disclosing how the transaction would benefit them and disclose any hidden fees or charges. The measure next heads to Gov. Gavin Newsom for his signature. If signed, the changes would bring California in line with 40 other states.
Read the full article on BestWire