Congressional committee approval late last week of an amendment to the financial-reform bill maintaining state regulation of equity-indexed annuities drew mixed reaction, with insurers cheering the action and advisers largely opposing it.
Nationwide Financial Services Inc. last week bumped up its variable annuity living benefits, signaling a return — for some carriers — to the generous benefits that backfired on insurers when the stock market imploded in 2008.
The proposal clarifies that the funds are insurance products that should be overseen by states rather than securities that should be regulated by the Securities and Exchange Commission.
Mr. Harkin's amendment would clarify that these funds are insurance products that should be overseen by states rather than the Securities and Exchange Commission.
The group, comprising 60 to 70 representatives from broker-dealers and insurance companies, hopes to hash out a uniform solution to comply with the rules.
Though it appears that regulatory oversight of equity-indexed annuities will remain with states — and not shift to the Securities and Exchange Commission — some insurers are nonetheless rolling out indexed-annuities that qualify as securities.
BP shares sunk Thursday in London as U.S. politicians pressed the British oil company to halt its dividend payments and fork out greater compensation for American workers and companies devastated by the massive Gulf of Mexico oil spill.
Many representatives and agents say the new requirements add to the already complex layers of review required by Finra.
Stranger-originated annuity transactions have plenty of layers of oversight already, says ValMark Securities' Caleb Callahan
There's no single solution for dealing with such a diverse age group. But in this clip from Digital Adviser2Adviser, we look at three key points to discuss with clients -- including long-term care.
It should be easier for employers to include annuities in their retirement plans because Americans are at risk of outliving their savings, an insurer told Labor and Treasury department officials today
The rally in bonds from real estate investment trusts that's made property debt the best performer this year is overdone as a slowing economy may threaten their performance, according to Pacific Investment Management Co.
"Longevity bonds" would be issued by the government and would act as a hedge for pension plans and insurers.
Standard & Poor's Equity Research's fundamental outlook for the health care services industry for the next 12 months is positive.
Variable annuity sales increased during the first quarter, while sales of fixed annuities slipped.
In an attempt to appeal to dually registered advisers, major life insurers are launching fee-based annuities.
Industry leaders say advisers and consumers want simpler, cheaper annuities
