INDUSTRY NEWS
NARAB board nominations sent back to White House
As previously reported, during 2016, former President Obama sent 10 nominees for the National Association of Registered Agents and Brokers (NARAB) board of directors to the U.S. Senate for approval; however, the Senate never confirmed these nominations.
Because these nominations were left pending at the end of the previous session of Congress, the nominations were sent back to the President when the new session began on Jan. 3, 2017.
It will now be up to President Trump to either resubmit the previous administration’s nominees to the Senate or to nominate a different slate of candidates. It is unknown whether President Trump will resubmit the same nominees or chose to submit different candidates for the NARAB board. It is also unclear whether this will be a priority for the new administration. Any progress establishing NARAB will continue to remain at a standstill until the new administration submits its nominees to the Senate.