See Credit Details Below
This course does not offer legal ethics credit. Please check the Credit Details section below for credit information in your jurisdiction.
Prudent advice regarding life insurance product selection and ongoing portfolio management must be given in accordance with established and proven asset management doctrines. The Uniform Prudent Investor Act, FINRA Rule IM 2210 and the New York Department of Financial Services Regulation 187 "Clients Best Interest" rule and adjudicated lawsuits give substantial guidance.
Please join Barry D. Flagg of Veralytic, Inc. as he:
- Explains the new requirements of the NY DFS Best Interest Regulation for life insurance and how they differ from prevailing industry practices.
- Offers a familiar decision-making framework widely-used for investment assets for proper management of life insurance.
- Identifies life insurance practices now considered questionable, "misleading", "fundamentally" inappropriate or unreliable by financial, insurance and banking industry authorities such as FINRA, Society of Actuaries, and U.S. Department of the Treasury- OCC.
- Considers the ethical implications to CPAs, tax attorneys, wealth managers, trustees and other fiduciaries of the NY DFS Best Interest Regulation for life insurance.
Program Level: Intermediate
Intended Audience: In-house counsel, trust & estate attorneys, tax attorneys, CPAs, wealth managers, trustees other financial professionals
Advanced Preparation: None