Jim Poolman, former North Dakota insurance regulator and former vice president of the NAIC, led a compelling informational session Wednesday at SMAX on the ongoing developments and potential dangers of SEC 151A. Poolman, who currently works as a consultant to several companies who've filed suit against the SEC, says producers and companies still have opportunities to help overturn the controversial legislation. He warns, however, that with less than a year and a half left before 151A is set to go into effect, turning fixed indexed annuities into securities, those potentially affected need to act soon.
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