The Securities and Exchange is telling insurance companies that it is taking a hard look at disclosures insurers are making to customers contemplating purchase of deferred annuity riders, a new option when purchasing variable annuities.
Also coming under "heightened" scrutiny are funds and contract names that suggest safety or protection from loss.
The SEC views on these issues were made at a recent ALI-CLE meeting held in Washington by Norm Champ, SEC director of the Division of Investment Management.
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