Variable Insurance Product (VIP) Services

Specific ACA Compliance Assistance for VIP

ACA provides the following specific consulting services to help life insurance companies and VIP distributors ensure their compliance.

Mock SEC VIP back-office administrative examinations
Rule 38a-1 annual compliance reviews for insurance company and service providers
Outsourced “internal audit” function appraisals, including Rule 3010 reviews
Licensing, registration, and insurance appointment procedure reviews
AML VIP and Rule 3011 independent testing/review

Assessment of surveillance and monitoring program guidelines and the adequacy of risk-based parameters
Development of customized written supervisory, desktop operating, and surveillance procedures
Review of compliance program design and effectiveness within existing operating procedures
Development of customized suitability forms and suitability guidelines, including sales to seniors, rider guarantees, replacements, and investment objectives
Evaluation of the adequacy of existing staffing and technology resources
Onsite SEC or FINRA inspection support
Advertising and sales literature reviews
Regulatory-mandated consulting
Insurance company business unit and compliance training
Supervisor and representative compliance training