Finseca Applauds Unanimous Decision Finding Reg 187 Amendment Unconstitutional

Washington, D.C. (April 29, 2021) – Finseca issued the following statement after the New York Supreme Court Appellate Division unanimously found the regulation 187 amendment to be unconstitutional.

“Our members have tried mightily to comply with the regulation, but, as the Court found, it has been extremely difficult to meet the vague and subjective standards of the rule,” said CEO Marc Cadin. “We look forward to continuing to serve the insurance-buying public with the best service to meet their financial needs, and we will continue to work with the Department of Financial Services to ensure we are best protecting New York consumers.”

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About Finseca

At Finseca, we know that financial security improves people’s lives and protects their livelihoods and future wellbeing. We are rising to the challenge of increasing financial security for all. Finseca represents the men and women of the financial security profession who dedicate themselves to delivering financial security to their clients every day. We are focused on three transformational pillars: Elevate the noble work of the financial security profession; Accelerate professionals at any stage of their career in any marketplace, and Advocate effective public policy that puts more people on the path to financial security. Finseca promotes the value and purpose of financial security professionals, unifies our voice, and broadens financial security to more communities and generations of Americans.