On May 18, 2009, the Florida Department of Financial Services announced a notice of proposed rulemaking to adopt new Rule 69B-162.011, which will be published officially on May 22nd. This proposed Rule implements certain parts of the amendments to Florida Statutes Section 627.4554 which, beginning January 1, 2009, imposed more stringent suitability and replacement requirements on the sale of annuities to consumers age 65 or older.

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