SIA Submits Comments the SEC on Governing Deferred Variable Annuity Sales Practices and Supervisory Procedures
Published on:
September 19, 2005
The Securities Industry Association (SIA)* provides comments the Securities and Exchange Commission (SEC)on an amendment to aproposed new National Association of Securities Dealers, Inc. (NASD) Rule 2821 thatwould govern deferred variable annuity sales practices and supervisory procedures, Release No. 34-52046A; File No. SR-NASD-2004-183. SIA believes the proposal as draftedis duplicative, expensive and potentially counterproductive to the objective that investors be provided meaningful information regarding the purchase of a deferred variable annuity.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.