REGULATION: Group fights equity-indexed annuities rule
A coalition of insurance companies that are fighting an SEC rule recently argued their position in court.
A coalition of insurance companies that are fighting an SEC rule recently argued their position in court. The group, known as the Coalition of Indexed Products, filed a lawsuit in the U.S. Court of Appeals for the District of Columbia Circuit in an effort to try to overturn a new SEC rule that classifies indexed annuities as securities. State insurance regulators joined the coalition in telling the court that the SEC’s rule ignores a law that grants states the right to regulate the insurance industries in their jurisdictions. The SEC was expected to file its response yesterday.
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