As you most likely know by now, on Dec. 17, U.S. Securities and Exchange Commission members voted 4-1 to pass Ruling 151A, a decision that could alter the way many of you in the financial services industry sell products.
Last week, we covered the ruling. In that article, Senior Market Advisor managing editor, Andy Stonehouse, wrote: “Commissioners acknowledged the tremendous public and industry feedback to the proposal – several thousand letters and submissions were sent to the SEC after the June 25 announcement of the proposed ruling – but say that 151A will provide better oversight and consumer protection for future sales of FIA products.”