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NAFA Criticizes the SEC
Staff Reporters
Insurance agents without securities licenses won’t be able to sell index annuities under this new proposed rule.
NAFA Opines
The National Association of Fixed Annuities (NAFA) recently took a firm stand against the Security & Exchange Commission’s (SEC) proposed Rule 151A, which would regulate index annuities as securities rather than as insurance products.
Insurance-Securities Hybrid Product
NAFA said in a statement issued in July that it “strongly disagrees with the SEC proposal and will pursue all available avenues of recourse,” including taking legal recourse, if required.
Assessment
Conclusion
In other words, if Rule 151A is adopted, insurance agents without securities licenses would not be able to sell Index Annuities [IAs]. IAs are investment products that combine both fixed income investments and equity index options so as to be able to leverage opportunities in both.
Please comment and opine; especially insurance agents, investment advisors and financial planners.
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Filed under: "Advisors Only", Financial Planning, Insurance Matters, Investing | Tagged: Add new tag, annuities, annuity, david marcinko, indexed annuity, insurance, insurance agents, NAFA, SC 151A, SEC, securities license | Leave a comment »
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