Kentucky

Fiduciary/Best Interest Development

• The Kentucky Department of Insurance has proposed a rule amending its Suitability in Annuity Transactions Regulation (“Regulation 12:120”) to adopt the NAIC’s model suitability standard (discussed below).
• Comments on the proposed regulation were due November 30, 2020. If finalized without delay, the new regulation would take effect on July 1, 2021.

Sources

Final Regulation 12:120