SEC Eyes Variable Annuity Buyout Disclosures

November 4, 2015 by Linda Koco

Variable annuity carriers need to focus carefully on disclosures they make in their buyout offers to policyholders, said a Securities and Exchange Commission (SEC) official in a speech this week in Washington.

The disclosure staff also is monitoring disclosure of variable annuity fee tables, said Dave Grim, director of the SEC’s Division of Investment Management.

The disclosure heads-up appears in published text from Grim’s remarks before the 2015 Conference on Life Insurance Company Products of the American Law Institute Continuing Legal Education Group (ALI CLE). Click HERE to view article

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Originally Posted at InsuranceNewsNet on November 3, 2015 by Linda Koco.