Indexed-annuity rule comment period extended

The Securities and Exchange Commission has chosen Nov. 17 as the new deadline for comments on its proposal to register indexed annuities.
OCT 17, 2008
The Securities and Exchange Commission has chosen Nov. 17 as the new deadline for comments on its proposal to register indexed annuities. This rule, originally proposed in June, would designate certain indexed annuities as securities and place them under the oversight of the SEC and the New York- and Washington-based Financial Industry Regulatory Authority Inc. The rule has come under criticism by members of the insurance industry and regulators, who maintain that indexed annuities are insurance products and shouldn’t be regulated as securities. Originally, the comment period was supposed to have closed on Sept. 10, but it was later reopened after protests from Congress and trade associations, such as the National Association for Fixed Annuities of Milwaukee.

Latest News

Why fixed income still belongs in your clients' portfolios
Why fixed income still belongs in your clients' portfolios

In an era of AI euphoria and market FOMO, getting back to basics with fixed income may be the most contrarian and most important move advisors can make.

Voya expands advisor managed accounts to add private market assets
Voya expands advisor managed accounts to add private market assets

Voya Financial adds private equity, credit and real estate options to its AMA program, building on support for looser federal investment rules in retirement accounts.

With executives leaving, Osaic’s Reid now in the spotlight
With executives leaving, Osaic’s Reid now in the spotlight

Shannon Reid, president of Osaic and the network’s number two executive, has plenty of challenges, industry executives said.

Investors sue crypto fund and platform, alleging $1.5 million never returned
Investors sue crypto fund and platform, alleging $1.5 million never returned

Auditors flagged the commingling. The COO allegedly knew. Investors kept getting the pitch

Wells Fargo nabs $1.7B RBC advisor team, loses two teams to LPL
Wells Fargo nabs $1.7B RBC advisor team, loses two teams to LPL

The advisors on the move include two brothers leading a family practice in Connecticut, and a husband-and-wife tandem working with business owners in the West Coast.

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.