American Financial Group to Purchase ABAIS

The American Bankers Association announced yesterday that American Bankers Mutual Insurance Limited—the reinsurer for ABA’s endorsed insurance program—has reached an agreement to sell ABA Insurance Services to American Financial Group.

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SEC ‘Best Interest’ Proposal Reflects ABA-Supported Principles

In a comment letter to the Securities and Exchange Commission today, ABA offered feedback on the SEC’s proposal to implement a “best interest” standard of conduct for broker-dealers when making recommendations on securities transactions or investment strategies to retail customers. The SEC’s proposal would represent a different approach from the Labor Department’s fiduciary rule, which was vacated earlier this year ...

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