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SEC proposes enhancements to disclosure requirements for variable annuities and variable life insurance contracts

  • SEC document Image

Oct 31, 2018

The SEC has issued a proposed rule, “Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts.”

The purpose of the proposal is to improve disclosures about variable annuities and variable life insurance contracts by providing “investors with key information relating to the contract’s terms, benefits, and risks in a concise and more reader-friendly presentation, with access to more detailed information available online and electronically or in paper format on request.”

Com­ments on the pro­posed rule are due by February 15, 2019. For more in­for­ma­tion, see the press release and pro­posed rule on the SEC’s Web site.

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