Producer Licensing (EX) Task Force
Producer Licensing (EX) Task Force Page
Executive (EX) Committee Task Forces and Working Groups Summary Report
Summer 2009 Meeting Summaries Index

The Producer Licensing (EX) Task Force met June 15, 2009.

During this meeting, the Task Force:  

  • Adopted the report of the NARAB Working Group, “Continuing Compliance with Reciprocity Requirements of the Gramm-Leach-Bliley Act.”
  • Adopted the revised uniform applications.
  • Discussed business-entity licensing, including ways to simplify the licensing process and how licensing helps protect consumers.
  • Received an update from the Producer Licensing Coalition, which discussed the purpose of the coalition and ways to streamline the business-entity licensing process.
  • Received an update on the activities of the NIPR Board of Directors.
  • Adopted a formal recommendation to implement the use of the NAIC/NIPR Attachments Warehouse with those states that are ready to implement this licensing tool, instead of waiting until all states have committed to use the Attachments Warehouse. The Attachments Warehouse allows producers to centrally report civil, criminal and administrative actions to all states via an electronic transmission.
  • Adopted the reports of the NARAB Working Group and the Producer Licensing Working Group.
  • Discussed potential dates (July 6 or July 20) for the next Producer Licensing Directors Roundtable.
  • Discussed the Suitability of Annuity Sales (A) Working Group’s proposal to include continuing-education requirements into the Suitability in Annuity Transactions Model Regulation (#275).

Action Items:

  1. Adopted the report of the NARAB Working Group, “Continuing Compliance with Reciprocity Requirements of the Gramm-Leach-Bliley Act.”
  1. Adopted the revised uniform applications.
  1. Adopted a formal recommendation to implement the use of the NAIC/NIPR Attachments Warehouse with those states that are ready to implement this licensing tool, instead of waiting until all states have committed to the use of the Attachments Warehouse.
  1. Adopted the reports of the NARAB Working Group and the Producer Licensing Working Group.
 

Minutes are available approximately two weeks after the meeting concludes.

Minutes are available free for meeting attendees using the User ID and Password supplied by the NAIC. Members may access minutes via StateNet. Non-attendees and those requiring minutes from previous meetings, may purchase the Proceedings of the NAIC through the NAIC Store.