SOURCE: Kaplan Financial Compliance

July 01, 2008 11:13 ET

Kaplan Compliance Solutions and the Securities & Insurance Licensing Association (SILA) Agree to Separate Operations

INDIANAPOLIS, IN--(Marketwire - July 1, 2008) - The Securities & Insurance Licensing Association, 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 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.

Diana Capes will continue as SILA's executive director, but no longer serves as a Kaplan Compliance Solutions employee.

About SILA

The Securities & Insurance Licensing Association, Inc. (SILA) is an industry association created for the purpose of communication and education for licensing and education experts whose occupations encompass all areas of licensing and registration. SILA was originally established in 1990 to bring together licensing experts including representatives of the regulatory agencies that provide oversight to the insurance and financial services industries.

About Kaplan Compliance Solutions

Kaplan Compliance Solutions provides services and technology solutions for the insurance and securities industries to help manage the on-boarding process and career cycle for producers and representatives. The company is a trusted partner of more than 50 percent of the world's Fortune 500 insurance companies and securities firms. Kaplan Compliance Solutions is a part of Kaplan Professional, a leading source of education and compliance solutions for insurance and financial services institutions and individuals. Kaplan Professional is a division of Kaplan, Inc., a global education services provider and a subsidiary of The Washington Post Company. For more information, go to http://www.kaplancs.com.

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