CHARTING A COURSE FOR CHANGE
NAVIGATING THE IMPACT OF
TECHNOLOGY AND REGULATIONS
Volume III, Septembe r 2017LIFE INSURANCE INDUSTRY
LEGAL ISSUES AND DEVELOPMENTS FROM CARLTON FIELDS JORDEN BURT, P.A.
EXPECTFOCUS®
EXPECTFOCUS®
LIFE INSURANCE, VOLUME III,
SEPTEMBER 2017
EXPECTFOCUS® is a quarterly review
of developments in the insu rance and
financial ser vices industry, provided on
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Burt, P.A. or any of its l awyers.
EXECUTIVE EDITOR
Josephine Cicchetti
EDITOR
Christina Calhoun
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Lauryn Craparo
COPY EDITOR
Adriana Gardella
LAY OU T
Frances Liebold
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3 OCIE Lessons From
Cybersecurity 2 Initiative
4 NAIC Cybersecurity
Working Group Votes to
Approve Insurance Data
Security Model Law
6 NAIC Big Data Working
Group Update
6 SEC Scrutinizes Multi-
Manager Arrangements
7 SEC Cautions on Use
of Distributed Ledger/
Blockchain Technology
to Raise Capital
8 SEC Stays Approval of
Quadruple-Leveraged
ETF
8 SEC Investor Advocate’s
2018 Objectives Target
Key Issues for Life
Insurers
9 Nevada Securities Act
Amendments – What’s
Next?
9 The Fiduciary Rule Status
Update
10 The DOL Fiduciary
Rule: Charting a Course,
Avoiding Collisions and
Potential Litigation
12 CertiedFinancial
Planner Board Proposes
Fiduciary Obligations for
All CFP Financial Advice
12 Pennsylvania Court Hol ds
Fiduciary Duty Exis ts
Only Where Consumer
Cedes Decision-Making
Control to the Fiduciary
13 Plaintiffs Survive
Standing-Based
Challenge to California
Senior Notice and
Financial Elder Abuse
Claims
14 EleventhCircuitAfrms
Summary Judgment for
Insurer in STOLI Case
15 Dismissal of Individual
Claims Cap Insurer’s
Winning Streak in Action
Challenging FIA Product
Features
16 Communications With
Auditors and Audit
Committees May Change
17 New Partnership Audit
Rules – Plan Ahead
Before the Tax Bill
Arrives
18 A Ticking Clock: New
York’s Pending Non-
Guaranteed Elements
Rule for Life Insurance
and Annuity Products
20 Sticking Firmly to
Contract Terms, Court
Dismisses Premium and
COI Overcharge Claims
21 Summary Judgment Win
for Insurer in “Stable
Value” Interest Rate
Setting Case
21 Jump in Credit
Scores Means Dip
in Underwriting
Predictability
22 News & Notes
TABLE OF CONTENTS
