Indianapolis — The Securities & Insurance Licensing Association (SILA), initially sponsored by Kaplan Compliance Solutions, recently formed a legal entity (Securities & Insurance Licensing Association Inc.) and will operate as an independent association for the industry. A predecessor of Kaplan Compliance Solutions created Indianapolis-based SILA in 1990 (under the name of the Society of Insurance Licensing Administrators) to represent licensing and education experts, including representatives of regulatory agencies. Kaplan Compliance Solutions will continue to be an active member, but SILA will no longer be operated under the auspices of the company.
This action was taken in response to emerging concerns expressed by some of the state regulators and SILA advisory board members regarding the potential for conflict of interest between Kaplan and SILA. Their concern grew out of the fact that Kaplan, through its educational division, offers materials that are subject to approval and oversight by state regulators. The agreement dissolves the corporate sponsorship relationship of SILA by Kaplan Compliance Solutions, and allows a new legal entity to operate as a totally independent organization.
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