Financial institutions shall develop and implement policies and procedures to ensure that sales activities are conducted in compliance with applicable laws and rules and in a manner consistent with this chapter. Compliance procedures shall identify potential conflicts of interest and how conflicts shall be addressed. The compliance procedures shall also provide for a system to monitor customer complaints and their resolution. The compliance function shall be conducted independently of insurance and annuity product sales and management activities.

Source. #7064, eff 7-24-99