On February 13, 2020, the NAIC Executive Committee and the Plenary voted to approve an update to the NAICs Suitability in Annuity Transactions Model Regulation (Model # 275). The revisions, specifically Section 1A defines the purpose of this regulation to require producers, as defined in this regulation, to act in the best interest of the consumer when making a recommendation of an annuity and to require insurers to establish and maintain a system to supervise recommendations so that the insurance needs and financial objectives of consumers at the time of the transaction are effectively addressed. The minimum length of the training required under this subsection shall be sufficient to qualify for at least four (4) CE credits but may be longer. Producers who hold a life insurance line of authority on the effective date of this regulation and who desire to sell annuities shall complete the requirements of this subsection within six (6) months after the effective date of this regulation. Newly granted licenses with this authority must complete the requirement prior to the sale of annuities.