Winning member support for a resolution backing federal legislation that balances an optional federal charter with continued support for dual state oversight is a key goal for the National Association of Insurance and Financial Advisers at its annual meeting, according to Jeff Taggart, NAIFA’s outgoing president.
The meeting began Sept. 6 in San Diego, and ends Sept. 10 with a vote by NAIFA’s National Council on a resolution supporting an OFC with caveats.
“Our proposed position regarding an OFC substantially differs from that of other organizations supporting such legislation,” Taggart said.
For example, he said, “We support an OFC with strong caveats, such as true agent choice, strong consumer protection, single federal voice for international treaties and continued support for a dual track approach to state regulation.
“Our balanced approach should make it easier for our members to support such legislation, but, at the same time, allow us to be involved in crafting balanced legislation,” Taggart added. “And we are optimistic our members will support our approach, based on feedback we have had.”