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Corporate & Securities Law

: FinancialCounsel

SEC Proposes To Broaden Investor Protection For Those Being Sold Equity Indexed Annuities

By James Eccleston

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The Securities and Exchange Commission has published for public comment a proposed new rule that would protect seniors and other investors from fraudulent and abusive practices in the sale of equity indexed annuities.  Equity indexed annuities are often sold to seniors, for whom they may be unsuitable investments due to substantial early surrender charges that lock up older investors' money for many years. The SEC voted unanimously on June 25, 2008 to issue the proposed rule for public comm read more

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Full post as published by FinancialCounsel on July 03, 2008 (boomark / email).

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