SEC delays date indexed annuities will become securities

12/10/2009 | InvestmentNews (free registration)

The Securities and Exchange Commission pushed back the date when Rule 151A, which turns index annuities into securities, becomes effective. The rule was supposed to go into effect for products sold starting Jan. 12, 2011, but the SEC postponed the rule for two years. Old Mutual Financial Life Insurance had asked for the delay while an analysis of how the rule will affect capital formation and competition is conducted.

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