At a time when the SEC, FINRA, and state authorities are putting increasing regulatory pressure on the securities industry, Variable Annuities and Variable Life Insurance Regulation remains today’s most comprehensive and accessible guide to the many federal and state rules governing these instruments. Every key area is addressed to clarify professional duties and compliance responsibilities, from product design, approval, administration and distribution, to marketing, inspections, and special investment products, including private placements and offshore investment products.
This treatise includes discussion of:
- The expanded definition of an investment advice fiduciary by the DOL, and the challenges posed by this change to the ability of insurance companies and broker-dealers to market asset allocation programs within variable insurance products;
- the new “Best Interest Contract Exemption” or “BIC Exemption” issued by the DOL that is intended to provide some relief to entities that are deemed to be fiduciaries under the Fiduciary Rule; and
- tax treatment of hedges that variable contract issuers use to manage liabilities for minimum guaranteed income, cash value, or death benefits under variable contracts.
Updated at least once a year, Variable Annuities and Variable Life Insurance Regulation
is a vital reference for securities professionals and attorneys, compliance officers, federal and state regulators, general practitioners, and investors.