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Super-IMOs Get 16 Months to Comply with DOL Class Exemption
InsuranceNewsNet.com Link to more items from this source
Jan. 25, 2017
"Qualified [Independent marketing organizations (IMOs)] only need to show that they are making a good faith effort and are 'presently taking steps to put in place the systems necessary' to meet best interest contract standards, and that the IMO 'fully intends to comply with all the applicable conditions for such relief after the expiration of the transition period,' DOL documents said. The period would start with the rule's effective date of April 10 and expire Aug. 15, 2018."

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