Chances are you want SEC Rule 151A to be vacated. Are you doing anything about it?
As you probably heard, last week the annuity industry got some good news when the SEC revealed via a Dec. 8 filing with the U.S. Court of Appeals for the District of Columbia Circuit it is putting off for two years the effective date of the hotly disputed rule that would require that certain indexed annuities be treated as securities rather than insurance products. Rule 151A had been set to go into effect in early 2011. The two-year stay would run from the date of publication of a reissued or retained rule.
The stay certainly doesn’t signal that the SEC is giving up. While it is uncertain at this point whether the Court will vacate Rule 151A or leave it on remand at the SEC, the SEC will have to take further action if it wants to proceed.