October 13, 2008
The SEC proposed rule at the urging of securities regulators who said indexed annuities were being sold unscrupulously. They cited anecdotes of sales to inappropriate - very senior clients who misunderstood the annuities. (This Is total BS.)
Indexed Annuities are still a guaranteed from loss product.
The only unscrupulous enity in this whole political process have been the Industry for Variable Annuity providers who over the years have been marketing false guarantees with false promises.
No part of an Indexed Annuity sale creates any market direct access to any market risk. Security licenses should not required to sell any guaranteed from loss product and it should not be monitored or controlled by cheap shot profiteers who are not happy with the fines and losses they have been incurring over the years for their clients based on very poor Annuity Product Design.....