WSR 18-13-103

PREPROPOSAL STATEMENT OF INQUIRY

OFFICE OF THE

INSURANCE COMMISSIONER

[Insurance Commissioner Matter R 2018-08—Filed June 19, 2018, 2:12 p.m.]

Subject of Possible Rule Making: Variable life and variable annuity resident license standards.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.18A.070, 48.02.060 (3)(a).

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Amend WAC 284-17-015 to remove the reference to the financial industry regulatory authority and replace it with the department of financial institutions in order to align with RCW 48.18A.060 and to provide increased clarify [clarity] of licensing requirements.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: The office of the insurance commissioner is working with the department of financial institutions to implement consistent language and requirements.

Process for Developing New Rule: Submit written comments by July 20, 2018.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Zachary Mason, P.O. Box 40258, Olympia, WA 98504-0258, phone 360-725-7170, fax 360-586-3109, TTY 360-586-0241, email rulescoordinator@oic.wa.gov, web site www.insurance.wa.gov.

June 19, 2018

Mike Kreidler

Insurance Commissioner