AB654,15,2522 628.347 (4m) (b) 10. An intermediary who has completed an annuity training
23course approved by the commissioner prior to the effective date of this subdivision
24.... [LRB inserts date], shall, within 6 months of the effective date of this subdivision
25.... [LRB inserts date], complete any of the following:

1a. A 4 credit training course approved by the commissioner.

AB654,16,52 b. An additional one-time one credit training course approved by the
3commissioner and provided by an education provider, who is approved by the
4commissioner, on appropriate sales practices and replacement and disclosure
5requirements under this section.

AB654,16,107 628.347 (4m) (b) 11. Satisfaction of the components of the training
8requirements of a course or courses with components substantially similar to the
9requirements of this paragraph satisfies the training requirements of this
10paragraph.

AB654,16,1612 628.347 (9) No private cause of action. Nothing in this section may be
13construed to create or imply a private cause of action for a violation of this section
14or to subject an insurance intermediary or insurer to civil liability under the best
15interest standard of care under sub. (2) or under standards governing the conduct
16of a fiduciary or a fiduciary relationship.

AB654,16,23 17(10) No additional licensure. Nothing in this section may be construed to
18require an insurance intermediary to obtain any license, including a securities
19license, other than an insurance intermediary license with the appropriate line of
20authority to sell, solicit, or negotiate insurance in this state in order to fulfill the
21duties and obligations contained in this section so long as the insurance
22intermediary does not give advice or provide services that are otherwise subject to
23securities laws or engage in any other activity requiring another professional license.