(Editor’s note: Responses continue to flood our inbox as readers weigh in on our Editor’s Blog, “SEC 151A Heats Up.” If you’d like to share your own opinion, visit www.SeniorMarketAdvisor.com and submit your comment.)
As we can see with the problems we are presently facing in the marketplace, SEC regulation hasn’t really worked all that well when it comes to investment banking and securities corporations. It’s hard to believe that giving them more
authority over the insurance industry is in the best interest of anyone. By the way, all those made-up concerns about EIAs seem strange when, in the midst of a market collapse, none of them have lost a dime. So other than their own power base, just who is the SEC really interested in protecting?
– Jonathan Neal
Any member of the SEC who has been quoted has been a proponent for 151A. Their primary purpose is to regulate all actions of selling or purchasing securities. However, they appear to have taken on the additional responsibilities of protecting those who are licensed brokers. For the good of the American citizens, the SEC needs to concentrate on regulating what they have and stay away from indexed annuities.
– Karl D. Sipe