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Ohio Finalizes Best Interest Rule for Annuities, Joining Other States The rule is based off a model designed by the National Association for Insurance Commissioners that was intended to align with the SEC s Regulation Best Interest. Ohio has finalized a rule governing the conduct for producers selling and recommending annuities, the latest in a number of states with finalized or proposed rules based on the National Association for Insurance Commissioners’ (NAIC) model that was passed last year.  Ohio finalized its rule Thursday afternoon, with an effective date scheduled for Feb. 14. Delaware also finalized its rule late last month, joining five other states. Arizona and Iowa passed their own rules based on the NAIC model last year, and those rules have already gone in effect. Rhode Island’s rule is set to go into effect at the start of April. In Arkansas and Michigan, finalized rules will go into effect at the end of June.

Bay stateUnited statesNew yorkRhode islandNorth dakotaJason berkowitzMichelle richterJoe bidenExchange commission regulation best interestNational association for insuranceRetirement instituteInsurance servicesNational associationInsurance commissionerInsured retirementExchange commission