July 14, 2008
I have been insurance licensed for 30 years, a registered rep. for 22 years. I have seen many attacks on the fixed annuity over the years, and, by the way, an indexed annuity is a fixed annutiy. Until the definition is changed.
The proposed ruling is a political move only, motivated by the desire to capture more fees and fines. If the SEC could show a tremendous track record of being able to regulate anything effectively I might have a different opinion.
This is just another step toward the "Master Plan" of establishing a National Department of Insurance. And would'nt that make FINRA happy