EIA~Boy is this action overdue...

[mickeyd]

It's about time that this sleazy annuity product is being considered by the SEC as a security product not just an annuity product.

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.

SEC Poised to Regulate Index Annuities - Articles - Financial Planning=

 

[brewer12345]

Heh, a lot of scumbag annuity salesmen are going to be cut off from their favorite, highest commission product.

 

[CitricAcid]

Prey on more innocent people after you get your securities license?

 

[brewer12345]

Prey on more innocent people after you get your securities license?

Securities regulations are far more stringent and more thoroughly enforced than insurance regulations. ArtG and his ilk will have to be careful...