by John Darer CLU ChFC CSSC
The Securities and Exchange Commission (SEC) today approved adopting rules on a 4-1 vote based on SEC proposed Rule 151A**, which is intended to regulate equity indexed annuity products as securities, rather than the non-securities treatment they have received to date. The effective date appears to be January 2011. Additional details are forthcoming.
Structured settlement consultants who are currently selling equity indexed annuities to tort victims will need to obtain the appropriate licenses and affiliations to be able to sell the product in the future.
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