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Regulators should work to eliminate fraudulent, deceptive, or unfair practices with respect to investment sales, accounting methods, disclosures, and market structure.
Brokers and other financial professionals who commit fraud currently face civil sanctions. Policymakers should consider adding criminal penalties to this.
Victims of investment fraud should have adequate federal and state statutory remedies, including access to courts for individual or class claims.
States should establish strong conflict-of-interest regulations and revolving door limits. Public officials and staff should be independent from the industries they regulate.
States should strengthen regulatory oversight of the safety and soundness of insurance companies. They should ensure that consumer funds are protected in the event of insurance company failure.
States should authorize their insurance commissioners to regulate all insurance companies conducting business in the state.
Policymakers should require fair terms and conditions in insurance to ensure availability and coverage. In particular, age alone should not be used to limit coverage.
States should require insurance companies to make their products available at fair and reasonable rates, including to people with disabilities, preexisting conditions, or chronic illnesses.
Insurance companies should be required to provide clear, informative outlines of coverage before customers buy policies. They should reduce the complexity of consumer decision-making.
Policymakers should require insurance claims to be processed quickly and accurately.