House of Representatives Introduces Bill to Nullify SEC Rule Regulating Indexed Annuities as Securities
On June 4, 2009, Representatives Gregory Meeks (D-NY) and Tom Price (R-GA) introduced H.R. 2733, the Indexed Annuities and Insurance Products Classification Act of 2009 (the “Bill”), in the U.S. House of Representatives. If adopted, the Bill would nullify Securities and Exchange Commission Rule 151A which sought to classify indexed annuities as securities and subject them to federal regulation.
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