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SEC | RIN: 3235-AK16 | Publication ID: Spring 2009 |
Title: Indexed Annuities and Certain Other Insurance Contracts | |
Abstract: The Commission adopted a new rule that defines the terms "annuity contract" and "optional annuity contract" under the Securities Act. The rule is intended to clarify the status under the federal securities laws of indexed annuities, under which payments to the purchaser are dependent on the performance of a securities index. The Commission also adopted a new rule that exempts insurance companies from filing reports under the Exchange Act with respect to indexed securities and other insurance securities registered under the Securities Act, provided that certain conditions are satisfied, including that the securities are regulated under State insurance law, the issuing insurance company and its financial condition are subject to supervision and examination by a State insurance regulator, and the securities are not publicly traded. | |
Agency: Securities and Exchange Commission(SEC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Completed Actions |
Major: Yes | Unfunded Mandates: No |
CFR Citation: 17 CFR 230.151A 17 CFR 240.12h-7 | |
Legal Authority: 15 USC 77c(a)(8) 15 USC 77s(a) 15 USC 78l(h) 15 USC 78m 15 USC 78o 15 USC 78w(a) 15 USC 78mm |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: www.sec.gov/rules/final/2009/33-8996.pdf | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Michael Kosoff Division of Investment Management Securities and Exchange Commission 100 F Street NE, Washington, DC 20549 Phone:202 551-6754 Email: kosoffm@sec.gov |