Members of the National Association of Insurance and Financial Advisors’ national council today agreed to support the concept of letting insurance industry players choose between state regulation and federal regulation.
NAIFA, Falls Church, Va., completed the process of expressing support for optional federal charter bills that meet certain conditions when the council members approved an OFC resolution prepared by NAIFA leaders by a voice vote.
NAIFA held the vote in San Diego, at its annual meeting.
About 80% of the national council members who participated in the vote supported the resolution, according to one attendee.
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Later, a number of other attendees say they believe support for the measure was nearly unanimous.
NAIFA’s national council is made up of the presidents and national committee members of local and state associations.