SOURCE: IMSA

 

BETHESDA, MD--(Marketwire - August 29, 2008) - U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) representatives will address senior suitability and seminar selling at the IMSA Compliance Best Practices Workshop in Scottsdale, AZ on September 10 - 12, 2008.

Lawrence Kosciulek, FINRA Director, and Cindy Wong, Assistant Regulatory Director of the SEC Los Angeles Regional Office, will also answer questions about the SEC proposed Rule 151A (which would extend the SEC's federal jurisdiction to include indexed annuity products that have historically been regulated by the states).

Ryan Wilson of AARP's Public Policy Institute will speak on senior protection, and compliance experts from leading IMSA-qualified companies will present compliance best practice solutions, including Nicholas C. Gerhart from American Equity Investment Life; Andrew Shainberg from Prudential; and Jo Ellyn Reimers from Allstate Financial.

Florida Deputy Insurance Commissioner Mary Beth Senkewicz, Joel Laucher of the California Department of Insurance, and Erin Klug of the Arizona Department of Insurance will share regulatory views on senior protection and discuss with attendees the current compliance issues from a state and NAIC perspective. Among the topics to be tackled will be "annuity sales suitability" and other senior issues that are confronting companies and their selling partners in today's market.

"By gathering leading compliance professionals, state regulators, and representatives from the SEC, FINRA and AARP, workshop attendees will get a comprehensive picture of senior protection issues and can walk away with real-world compliance solutions," said IMSA CEO Brian Atchinson. "The participation and perspective of these experts will be of great value to compliance managers who need to stay on top of regulatory needs and expectations."

While ethical sales to seniors are of current concern, IMSA emphasizes high, verifiable standards of ethical market conduct for all consumers, who, regardless of age, deserve to be treated fairly. Online registration is available at www.IMSAethics.org.

IMSA is the premier standards-setting organization for the life insurance, annuity and long-term care insurance marketplace for individually sold products. Qualified companies commit to maintaining high ethical standards and to being fair, honest, and open in the way they advertise, sell and service their products. For more information and a list of IMSA-qualified companies, visit www.IMSAethics.org.