Indexed annuities face structured product style regulation in US

Indexed annuities, a form of insurance contract in the US, are to be placed on a regulatory level playing field with structured products following a Securities and Exchange Commission (SEC) ruling on December 17, 2008.

Following the introduction of Rule 151a, which was originally proposed in June 2008, indexed annuities that meet certain conditions will no longer be exempt from securities regulation, as most insurance contracts are. Annuity contracts that meet two specific conditions can now only be sold by broker-dealers registered with the Financial Industry Regulatory Authority, and must be registered with the SEC and sold accompanied by a prospectus, in the same way as structured products. The two

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