And the plot thickens! Just when we thought the Securities and Exchange Commission’s proposed rule 151A was becoming easier to figure out, the SEC threw a curve ball. An SEC document dated Oct. 10, says the regulatory body is “reopening the period for public comment on new rules” that would securitize annuities.
The extension to the comment period will take effect once this new document has been published in the Federal Register. According to the NAFA Web site, that document should see publication sometime next week.
There is “no indication of revisions to the rule,” according to NAFA. It’s pretty clear that once the 30-day period begins, both sides will be digging in, much like these last few weeks of the presidential campaign, and get the word out that their side is the better option.
Let me hear your thoughts on what this extension means and where you see 151A going.