Regulation of these insurance products has long been the domain of state insurance commissioners. The SEC had tried to make the oversight of fixed indexed annuities their responsibility. The agency wanted to require that these guaranteed products be sold by registered brokers rather than the insurance agents who traditionally have sold them. That would have been a hardship for small businesses that could not afford the costs of registering their agents.

Let regulation stay with state insurance regulators, who have a history of strong oversight of fixed indexed annuities.

Jim Van Fossen

Former state representative

Davenport