SEC Proposes Tailored Registration Form for Offerings of Registered Index-Linked Annuities

The Securities and Exchange Commission today proposed tailored disclosure requirements and offering processes for offerings of registered index-linked annuities (RILAs). The amendments would highlight key information about RILAs, allow insurance companies to conduct RILA offerings in the same way they conduct offerings of variable annuities, and enhance the investor protections that apply to RILA advertisements. “Given the complexity and growing popularity of RILAs, it is important that investors receive the information they need – in plain English – to make informed investment decisions,” said SEC Chair Gary Gensler. “Implementing Congress’s mandate, today’s proposal would require RILAs to use a registration form tailored to their characteristics.