SEC FIA Rule Threatens Firms: Insurers

Law360, New York (April 17, 2009, 12:00 AM EDT) -- American Equity Investment Life Insurance Co. and other insurers challenging a U.S. Securities and Exchange Commission rule treating fixed indexed annuities as securities have warned an appeals court that Rule 151A would impose up to $2 billion in costs and threaten the viability of firms that offer, market and sell FIAs.

Two groups of petitioners — whose cases have been consolidated — filed separate sets of reply papers with the U.S. Court of Appeals for the District of Columbia Circuit on Thursday, bringing briefing in the...
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