SEC Commissioner Mark T. Uyeda argued that the securities laws were not designed with variable insurance products in mind and highlighted ongoing efforts to improve disclosure.
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An insurance company settled SEC charges for providing retail investors with materially misleading quarterly account statements as to fees paid on variable annuities.
Corrections to SEC final rules and form amendments to revise disclosure requirements for variable annuities and variable life insurance contracts was published in the Federal Register.
The SEC adopted final rules and form amendments that will revise the disclosure requirements for variable annuities and variable life insurance contracts.
FINRA provided FAQs on how broker-dealers may comply with FINRA disclosure requirements when communicating with customers through electronic media.