NEB Publishes New Resource for Compliance Officers

With the industry tightening up its use of designations and other credentials, you may have had to answer questions about NEB from your compliance department. To help members better explain what NEB is and isn’t, we have published a comprehensive list of frequently asked questions. To access this list, go here.

It’s understandable that compliance officials are more cautious these days about approving field use of credentials. This is a good thing. But it’s also important that compliance professionals not make decisions about NEB membership on the basis of incorrect or incomplete information.

To this end, make sure your compliance officer understands that NEB:

• Is a membership organization similar to the Better Business Bureau (BBB).
• Has a diverse membership consisting of insurance, financial-planning, securities, real-estate, and accountants.
• Engages in a comprehensive program of ethics advocacy in the financial-services industry, promoting ethical business practices through its “Ethics in Action” column and articles in a variety of industry trade magazines.
• Has rigorous membership standards that, if violated, are grounds for membership denial or revocation.
• Conducts member background checks on an annual basis as a condition of membership.
• Does not grant any professional designation.or senior-market certification.
• Is not a field marketing organization or selling system.
• Does not sell or endorse the sale of financial products.

If you encounter difficulties getting your NEB membership approved, please encourage your compliance officer to review the new FAQ. If questions persist, please have the compliance officer contact NEB.