Industry News

Colorado official seeks to increase ABA licensing

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Licensing requirements for affiliated business arrangements in Colorado will increase and nearly 200 such arrangements will be shut down if a state official has her way, an industry trade group reported today. "We need to do the right thing," Erin Toll, Colorado's deputy insurance commissioner, said on the last day of the Real Estate Services Providers Council's annual conference in Washington, D.C., according to RESPRO. "The days when no one is enforcing rules are gone. We need greater teeth. Regulators need to step up," Toll told 300 attendees at the conference, according to RESPRO. Toll said there is nothing wrong with affiliated businesses that operate properly, but she is seeking legislation in Colorado to increase licensing requirements and stop "sham" affiliated businesses that she hopes will be a model for other states, the trade group reported. The conference featured workshops on the subject, including a workshop on the state regulatory environment for affiliated businesses ...