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In addition to our full Anti-Fraud Training, First Consulting also offers detailed state by state research on the following important Anti-Fraud topics:

  • Fraud Investigation and Monitoring - SIU criteria, Fraud Plan standards and filing requirements.
  • Fraud Reporting – state mandates, confidentiality, and liability.
  • Fraud Warning – language and forms where it should be used.
  • Fraud Definition – various definitions of fraud types for each state.

Find out how First Consulting can help.  Contact me today to find out more about our online research or take a Free Virtual Tour.

Sean Cox
Sean.Cox@FirstConsulting.com
816.391.2737


If you haven’t heard, the Department of Labor has proposed a new rule change targeting perceived abuses by advisors and it is a potential game-changer. The proposed rule expands the definition of “fiduciary” and further updates prohibited transaction exemptions (PTEs) currently in place. The change, if approved as written, would apply a “best interest” standard of care to the sale of IRAs and rollover transactions.

Once the proposal’s comment period and public hearing are complete, we may start to get clearer answers about how the rule changes will affect our client carriers, IMOs and individual agents. Rest assured, First Consulting will be watching very closely as potential compliance changes to your business may be necessary, including:

  • How advisors will comply with an entirely new fiduciary standard while also maintaining compliance with the current regulatory framework in place
  • Whether wholesale changes will be needed when it comes to disclosures provided to customers regarding compensation, conflict of interest and more
  • What carve-outs may be created during the preparation of the final rule for insurance-only agents selling insurance products

Should you have any questions about the proposed DOL Fiduciary Rule or have an annuity compliance need of any kind, let First Consulting help!

Contact me today to find out how First Consulting can help provide unique compliance solutions tailored to your unique compliance needs.

Kevin Mechtley
Kevin.Mechtley@FirstConsulting.com
816-886-3272