NU Online News Service, Jan. 29, 2004, 4:36 p.m. EST – IDS Life Insurance Company, Minneapolis, and its sister companies are asking for help from the U.S. Securities and Exchange Commission.[@@]
IDS Life and its affiliates, life insurance subsidiaries of American Express Company, already have an SEC order granting them the exemptions they need to recapture some credits associated with variable annuity contracts.
IDS Life wants to be able to recapture credits under more circumstances, and it wants an order that will let it build similar recapture provisions into similar variable annuity contracts without having to file new exemption applications with the SEC.
The SEC has posted the IDS exemption request at http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2004/pdf/04-1919.pdf