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While a steady decline in sales was seen before the fiduciary rule, the controversial regulation, which sought to address conflicts of interest in investment sales, clearly weighed on the variable annuity market. (Photo: Shutterstock)Sales of variable annuities, which have been slumping for years, are expected to see some improvement now that the Labor Department’s fiduciary rule has been vacated by an Appellate Court, and the agency has extended a temporary enforcement policy that will give sellers of investments wider compliance latitude.
“The DOL’s announcement of a new temporary fiduciary rule enforcement policy will not change our expectations for a rise in variable annuity sales in 2018,” said Laura Bazer, vice president and senior credit officer at Moody’s Investors Service.
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Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
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