SACRAMENTO, Calif. – On Friday, Governor Newsom signed SB 263 into law which adds additional protections for people investing in annuities by making changes to the state's Insurance Code. Senate Bill 263 would require insurance producers and companies to expand the suitability standards for the sale of annuities statewide. “Today we put financial institutions on notice that we will hold them responsible for customers who are cheated out of their investments,” said State Senator Bill Dodd, the author of the new law. “When incidents of abuse and exploitation happen it is unacceptable. I thank the governor for signing this much-needed law that will require insurance agents to do what’
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