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Florida Suitability Rule Proposal Withstands Industry Challenge |
October 16, 2009
Previously published on October 15, 2009
On October 9, 2009, the Florida Division of Administrative Hearings ("DOAH") dismissed the American Council of Life Insurance's ("ACLI") petition to invalidate the Florida Department of Financial Services' ("DFS") Proposed Rule 69B-162.011 (the "Proposed Rule"). The Proposed Rule implements Florida Statutes Section 627.4554, by adopting suitability and replacement comparison forms to be used with annuity sales to consumers age 65 or older.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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