Which act requires transparency in insurance producer compensation?

The Dodd-Frank Wall Street Reform and Consumer Protection Act is significant because it was enacted to promote transparency and accountability in the financial sector, which includes the insurance industry. One of its key provisions relates to the disclosure of compensation arrangements to ensure that consumers are fully informed about how producers are compensated. This is crucial in helping consumers make informed decisions, as it prevents potential conflicts of interest and ensures that producers advocate for the best interests of their clients rather than solely for their own financial gain.

The Act aims to protect consumers by requiring financial intermediaries, including insurance producers, to be transparent about their compensation structures. This helps foster trust and integrity within the financial services sector.

The other options mentioned do not focus specifically on insurance producer compensation transparency in the same way. Each of them addresses different aspects of regulation in healthcare, financial services, or data privacy, but they do not emphasize the importance of transparency in compensation as directly as the Dodd-Frank Act does.