(1)211 CMR 96.00 requires producers, as defined in 211 CMR 96.00, to act in the best interest of the consumer when making a recommendation of an annuity and requires insurers to establish and maintain a system to supervise recommendations so that the insurance needs and financial objectives of consumers at the time of the transaction are effectively addressed.(2) Nothing herein shall be construed to create or imply a private cause of action for a violation of 211 CMR 96.00 or to subject a producer to civil liability under the best interest standard of care outlined in 211 CMR 96.05 or under standards governing the conduct of a fiduciary or a fiduciary relationship.Amended by Mass Register Issue 1316, eff. 7/1/2016.Amended by Mass Register Issue 1484, eff. 12/9/2022.