Commissions Module - Lesson 13: New York Regulations

The Commissions Module equips participants with a practical understanding of how compensation flows across carriers, BGAs, and advisors, and why it is central to advisor retention and firm health. The course covers first-year, renewal, and trail commissions, as well as product-specific differences across life, annuities, hybrids, long-term care, and Medicare products.

Learners will explore inforce transactions that impact pay, regulatory considerations in states like New York, and how to resolve commission errors quickly to maintain trust. The module also introduces the role of technology and reporting systems in reconciling payments, managing hierarchies, and ensuring compliance. By the end, participants will be able to interpret statements, anticipate commission impacts, and support accurate, timely compensation across diverse product lines.

Lesson Overview:

New York Regulations

This lesson explains New York’s unique commission regulations, including limits set by Section 4228 and related rules. Learners will explore how expense allowances, split commissions, and licensing requirements affect compensation. The lesson emphasizes compliance, accurate coding, and proper forecasting when processing New York cases.

Learning Objectives

• Recognize how New York’s Section 4228 caps affect first-year commissions.

• Explain how expense allowances work alongside advisor compensation.

• Identify the importance of proper coding on NY commission statements.

• Understand licensing and disclosure requirements unique to New York business.

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