View the House Committee debate the Harkin Amendment
CLICK HERE
Need more information?
CLICK HERE to watch an educational presentation on why Fixed Indexed Annuities should not be registered securities.
Courts VACATE SEC Rule 151a...
Great news across the wire today on the 151A Judicial front! Here is an excerpt from the Order:
"Having determined that the SEC's S. 2(b) analysis is lacking, we grant the petitions [assertion that] the SEC failed properly to consider the effect of the rule upon efficiency, competition, and capital formation… We therefore order that Rule 151A be vacated."
View the Vacate Order CLICK HERE
Read the revised court document CLICK HERE
Congress to Nullify SEC 151a...
On Tuesday, June 22nd, the Senate Committee on Banking, Housing and Urban Affairs as part of the House-Senate Conference Committee on the Financial Regulations Bill voted 8-4 to approve the Harkin Amendment. The Harkin Amendment clarifies that fixed indexed annuities are NOT securities and should be regulated by state insurance regulators. This amendment was added to the Senate version of the Financial Regulatory Reform Bill.
Today, Thursday, June 24, the House side of the Conference Committee in a 12-4 vote also agreed to include the Harkin Amendment into the final Bill. The final version of the Bill is expected to be voted on by Congress and presented to the President for his signature prior to the July 4th Congressional recess.
As Yogi Berra said, “It ain’t over ‘til it’s over.” Although opposition forces may influence whether the Harkin Amendment is changed or remains in the final bill, we do have reason to be optimistic. www.sec151a.com will continue to work with NAFA and the Coalition for Indexed Products until this Bill is signed with the Harkin Amendment intact.
Although the stage is set for our ultimate victory, circumstances may require fast action over the coming weeks. Please continue to look for updates from www.sec151a.com. For now, thank you for supporting the many months we have all worked together to make this dream a reality.
FIAs simply are FIXED INSURANCE PRODUCTS. Safe,
Tax-Deferred, and NOT A SECURITY!
