The Financial Industry Regulatory Authority Inc. has proposed a change to a rule governing the sale of deferred variable annuities.

The change updates an old National Association of Securities Dealers rule requiring financial advisors to assure that any deferred VAs they sell are suitable to a client’s age and financial situation.

The proposed rule would transfer the old NASD Rule 2821 without significant changes and adopt it as Rule 2330 in the Consolidated FINRA Rulebook. The transfer is part of an ongoing conversion of rules from the former NASD and the New York Stock Exchange enforcement division, which were combined in 2007 to create FINRA.