Of Interest to those who sell EIAs
FYI: Another article discussing the proposed or possible change of status of Equity Indexed Annuities to be classified as securities. This would mean that a non registered insurance agent would not be able to sell these any more and that there would be regulation issues from our B/Ds and the SEC on these types of products.
http://www.financial-planning.com/pubs/fpi/20050801101.html
A Fixed Index Annuity is NOT a security, by any stretch of the imagination, and any possible permutation of existing securities law.
You and I both know that, but just wait until the SEC gets done with us. Just what we need.....more ridculous regulations to make our job even harder. Most of my busy work consists of documentation to cover my and the B/D's butts.
Source URL:https://www.wealthmanagement.com/forums/general/interest-those-who-sell-eias