It is recognized that the Federal Deposit Insurance Corporation, the Federal Reserve System, the Comptroller of the Currency, the National Credit Union Administration, and the Maine Bureau of Insurance have promulgated, or may, in the future, promulgate regulations governing the manner in which a financial institution or any of its affiliates and an annuity agent may engage in the sale of annuities. It is further recognized that there may exist differences in scope and coverage between this regulation and those promulgated by federal regulatory agencies or the Maine Bureau of Insurance. It is not the intent of this regulation to permit any practice which is not permitted by the appropriate state or federal agency. To the contrary, besides any other restriction or limitation stated herein, each financial institution or any of its affiliates and each annuity agent must fully comply with the regulations of the applicable state or federal regulatory agency.
02-029 C.M.R. ch. 130, § IX