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New York Issues Final Life Insurance and Annuity Suitability and Best Interests Regulation Protecting Consumers from Conflicts of Interest
Department of Financial Services [DFS], New York State Link to more items from this source
[Official Guidance]
July 30, 2018

"[T]he New York State Department of Financial Services (DFS) has issued a final regulation ... [which] requires insurers to establish standards and procedures to supervise recommendations by agents and brokers to consumers with respect to life insurance policies and annuity contracts issued in New York State so that any transaction with respect to those policies is in the best interest of the consumer and appropriately addresses the insurance needs and financial objectives of the consumer at the time of the transaction."

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