The Depository Trust & Clearing Corp. (DTCC) is making it easier for life insurers and wholesalers to determine whether specific agents can sell specific annuity products.
The DTCC, New York, a financial transactions infrastructure organization, says the DTCC Licensing & Appointments service will carry the information needed to determine whether the agents meet the state education and certification requirements necessary for selling the products.
The DTCC is adding the agent certification data by the end of the month.
Each state has its own requirements, and some states are implementing new annuity education requirements this quarter, the DTCC says.
Vendors can feed training data into the system without becoming members of the DTCC’s National Securities Clearing Corp. subsidiary, the DTCC says.
- Allison Bell