At today’s open meeting of the Commissioners of the U.S. Securities and Exchange Commission (“SEC”), it was announced by Chairman Christopher Cox that the SEC is proposing a rule that would establish “…the standards for determining when equity indexed annuities are not considered annuity contracts under the Securities Act of 1933 and therefore are securities and thus are subject to the investor protections afforded by the securities laws.” The proposed rule has yet to be posted on the SEC’s website; however, RIA Compliance Consultants will prepare and post to its blog a summary of the SEC’s proposed EIA rule once available.
Posted by Bryan Hill
Labels: Equity-Indexed Annuities
