A Focus on Compliance Amid New Call to Put Customers First

 Professionals to Discuss Best Practices and Hone Strategies
at LIMRA LOMA Event in Virginia

WINDSOR, Conn., Feb. 17, 2015 — LIMRA and LOMA announced today that Thomas Selman, executive vice president, Regulatory Policy, and legal compliance officer at FINRA, will deliver opening remarks at the LIMRA LOMA 2015 Regulatory Compliance Exchange, which will take place March 18-20, 2015, in Arlington, Virginia.

As the conference is taking place, new compliance and regulatory concerns have emerged. Most recently, FINRA, the largest independent securities regulator in the United States, has called on financial services companies to align their own concerns with their customers’ concerns more closely. Selman will address not only fiduciary standards but also the coordination of FINRA with other regulatory bodies, as well as FINRA’s views on opportunities and challenges today and into the future.

“Putting the customer first has always been top of mind for industry professionals, but in recent months, there has been renewed discussion about fiduciary and suitability standards,” said Jim Kerley, chief membership officer, LIMRA and LOMA.

...there has been renewed discussion about fiduciary and suitability standards

“This year’s Regulatory Compliance Exchange will provide an opportunity for a thorough analysis of this and other regulatory matters.” FINRA isn’t the only regulatory body calling on professionals to act in the best interest of their clients. “Just last year, the Securities and Exchange Commission said deciding on whether to propose a regulation creating a uniform fiduciary standard was a top priority,” said Kerley.

“So industry professionals are keenly aware of these on-going discussions and the appropriate steps based on the outcome.” The theme for this year’s exchange is “The Forum for Sharing Best Practices.” In addition to regulatory and compliance topics, the conference features other issues such as Big Data and risk management that are top of mind for today’s financial services professionals .

For more information or to register, please visit: 2015 LIMRA LOMA Regulatory Compliance Exchange.