The model act covers the secondary market for life insurance, including disclosures for viatical settlements brokers.
Further rate cuts will be needed to "support growth and to provide adequate insurance against downside risks," he said.
Wholesalers posted a 2.2% increase in sales in November, marking the largest gain in over two years.
Amid signs of inflation, European Central Bank today left its key interest rate unchanged at 4.0%.
New Jersey and Iowa 529 college savings plan contracts, up for renewal this year, are now out of play.
The HFR Fund Weighted Composite Index advanced 0.68% in December and gained 10.4% in 2007.
Despite fierce competition, mutual fund net sales will grow at 2% annually, hitting $340 billion by 2012, FRC predicted.
MBIA Inc. said that the SEC and the New York Insurance Department have started informal inquiries into a deal that the company made with private-equity firm Warburg Pincus LLC.
Charles Zhang, consistently Ameriprise's No. 1 producer this decade, left Jan. 2 to join LPL.
Maura Collins is CFO and Vanessa Rodriguez has been promoted to vice president and controller.
