IRI Urges Passage of NARAB II Legislation
By Cathy Weatherford
Insured Retirement Institute (IRI)
Washington, D.C. – March 13, 2013 The Insured Retirement Institute (IRI) released the following statement from IRI President and CEO Cathy Weatherford after the National Association of Registered Agents and Brokers Reform Act (NARAB II) was reintroduced in both the Senate and the House of Representatives earlier today:
“This bipartisan legislation promotes the efficient and cost-effective licensing of thousands of financial advisors across the country, while maintaining important consumer protections. On behalf of our 150,000 financial advisors, our broker-dealer members, and the insured retirement industry, we thank Congressman Randy Neugebauer (R-Texas), Congressman David Scott (D-Ga.), Senator Jon Tester (D-Mont.) and Senator Mike Johanns (R-Neb.) for their leadership on this important issue. We urge all Members of Congress to support and advance this common-sense legislation to secure its promise of an improved and streamlined licensing process while retaining authority for the states to regulate the marketplace.”
NARAB II legislation would establish a one-stop, national licensing clearinghouse for financial professionals operating in multiple states. It would enable financial professionals who have passed background checks in their home state to apply for NARAB membership, allowing them to conduct business in other jurisdictions and bypass the burden of duplicative state licensing requirements across multiple states.
About the Insured Retirement Institute:
The Insured Retirement Institute (IRI) is a not-for-profit organization that for twenty years has been a mainstay of service, commitment and collaboration within the insured retirement industry. Today, IRI is considered to be the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI proudly leads a national consumer education coalition of nearly twenty organizations and is the only association that represents the entire supply chain of insured retirement strategies: Our members are the major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella.
IRI’s mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and advocate before public policy makers on critical issues affecting insured retirement strategies and the consumers that rely on their guarantees. Visit www.IRIonline.org today to experience the vast resources of the Insured Retirement Institute for yourself.