By Ronald Holinsky and Robert Robertson ( April 8, 2020, 5:57 PM EDT) -- On March 11, the U.S. Securities and Exchange Commission adopted a new rule, and related rule and form amendments, to improve disclosure for investors about variable annuities and variable life insurance contracts.[1] The changes will permit a variable contract to use a summary prospectus, in accordance with new Rule 498A under the Securities Act of 1933.[2]...
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