Industry associations and state regulators joined together to oppose legislation that would have made it more difficult to sell life insurance and annuities.
It will require “major changes” from insurers on down for independent producers to get into compliance with the Department of Labor’s new fiduciary mandate by September, a leading analyst said.
The IRS declines to adhere to a coherent definition of insurance and leverages byzantine case law against taxpayers in an arbitrary and capricious manner.