VA proposal gets third amendment
Washington-based NASD has added a third amendment to a proposed rule affecting the sale of deferred variable annuities.
Washington-based NASD has added a third amendment to a proposed rule affecting the sale of deferred variable annuities. Originally proposed in 2004, the rule addresses requirements for training, along with principal review and approval, among other provisions. The latest change, made in response to comments received, clarifies that the rule would only apply to initial transactions and would not apply to annuities in qualified retirement plans. The SEC has not yet approved the proposal. For a look at the latest amendment, visit . To see the rule with its first two amendments, go to
sec.gov/rules/sro/nasd/2006/34-54023.pdf
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