DC Circ. Nixes SEC's Postponed Annuity Rule

Law360, New York (July 13, 2010, 5:20 PM EDT) -- A federal appeals court has vacated the U.S. Securities and Exchange Commission’s proposed regulation of fixed indexed annuities, following its ruling last year that the agency failed to fully examine the effects of the controversial rule.

On Monday the U.S. Court of Appeals for the District of Columbia determined that vacating Rule 151A, which would classify fixed indexed annuities as securities, beats leaving the suspended rule in place while the SEC takes a second look at its impact on the insurance companies that sell the products....
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