By Ronald Holinsky and Robert Robertson ( November 13, 2018, 2:35 PM EST) -- On Oct. 30, 2018, the U.S. Securities and Exchange Commission proposed rule changes designed to improve disclosure for investors about variable annuities and variable life insurance contracts (collectively, variable contracts). Following a disclosure framework that has long been in place for retail funds, the present proposal would permit a variable contract to use a summary prospectus, in accordance with proposed Rule 498A under the Securities Act of 1933.[1]...
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