The National Association for Fixed Annuities is planning a fly-in visit to Capitol Hill to promote S. 1389-legislation that would ensure that annuities cannot be regulated as securities.
An estimated 150 members and supporters of the association will fly to Washington, D.C. March 16-17 to visit with lawmakers about that bill, says Kim O’Brien, executive director of the Milwaukee, Wisc., trade group.
The move is part of NAFA’s continuing effort to block federal initiatives, such as the Securities and Exchange Commission Rule 151A, that would treat indexed annuities as securities.
The association will target visits to senators, especially those sitting on the Senate Committee on Banking, Housing, and Urban Affairs, says O’Brien.
That committee is now considering financial services legislation, she explains. “That is a good match for our bill.”