SEC Rule 151A

[Norwayguy]

I would like to ask people to understand that our industry is under attack. This is not about securities or insurance. There are jobs on the line. Not just for some agents, but for thousands of support staff at marketing organizations and at the insurance carriers themselves.

Just some food for thought.

Have a great week everyone!

Just think of the jobs saved/created they could claim from just killing this rule.

 

[retread]

Update: The equity index issue is being debated this week in Congress.

 

[retread]

Tomorrow, Tuesday, June 22nd, the committee charged with reconciling the House and Senate Financial Reform legislation is going to vote on the changes that affect indexed annuities. In short, the expected outcome is to keep indexed annuities under state control. Stay tuned.

 

[scagnt83]

Tomorrow, Tuesday, June 22nd, the committee charged with reconciling the House and Senate Financial Reform legislation is going to vote on the changes that affect indexed annuities. In short, the expected outcome is to keep indexed annuities under state control. Stay tuned.

Any news yet from the day??

 

[JMO Fan]

Senate conferees approve Harkin amendment ...

Senate conferees approve Harkin amendment on equity-indexed annuities - Investment News

Senate committee passed it. But before you celebrate, read the article. Dems on the Senate side weren't happy. Hard to know if the House Dems will go along.

 

[Norwayguy]

Senate conferees approve Harkin amendment on equity-indexed annuities - Investment News

Senate committee passed it. But before you celebrate, read the article. Dems on the Senate side weren't happy. Hard to know if the House Dems will go along.

I know I'm opening a whole of can of worms....but if we believe FINRA and FIA should be regulated as securities why haven't they come down on IUL's. I remember asking this of a compliance officer at my old B/D and he told me to never mention it again, "just what I need more things to oversee".

 

[JMO Fan]

I know I'm opening a whole of can of worms....but if we believe FINRA and FIA should be regulated as securities why haven't they come down on IUL's. I remember asking this of a compliance officer at my old B/D and he told me to never mention it again, "just what I need more things to oversee".

SEC tests for determining whether a product is a security would clearly extend to IUL. It might even extend to most fixed deferred annuity and UL products. If 151a is enacted, SEC could extend regulation to all of them.

 

[Norwayguy]

SEC tests for determining whether a product is a security would clearly extend to IUL. It might even extend to most fixed deferred annuity and UL products. If 151a is enacted, SEC could extend regulation to all of them.

Why can't they just stick to what they have now its not like they are doing a great job.

 

[briko3]

They can define it however they want as long as they don't have control.

 

[JMO Fan]

Why can't they just stick to what they have now its not like they are doing a great job.

Recent history shows that apparent regulatory mishaps are followed by claims of inadequate staff and authority, combined with continual proposals for more control.