DC Circ. Tells SEC To Re-Examine Annuity Rule

Law360, New York (July 21, 2009, 7:25 PM EDT) -- A federal appeals court on Tuesday ordered the U.S. Securities and Exchange Commission to take a second look at a rule that classified fixed indexed annuities as securities and subjected them to federal regulation, saying that the commission had not properly taken into account the effects on insurance companies that sell the products.

A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit said that the SEC did not properly consider the effect of Rule 151A “upon efficiency, competition and capital...
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