EIA~Boy is this action overdue...
It's about time that this sleazy annuity product is being considered by the SEC as a security product not just an annuity product.
SEC Poised to Regulate Index Annuities - Articles - Financial Planning
Concerned about reports of unsuitable index annuities sales to seniors, the Securities and Exchange Commission approved a proposal on June 25 that would, for the first time, classify index annuities as federally regulated securities.
The agency gave interested parties until Sept. 10 to file comments or objections to the proposed change and said that the rule would go into effect 12 months after it is published in the Federal Register. It could be published by the end of 2008 or in January 2009, an attorney familiar with the SEC action said.
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.