H.R. 10234
Creates new forms for some annuities and life insurance
Tells the Securities and Exchange Commission to create new registration forms for certain annuities and life insurance products, with investor testing for one type of annuity.
- The Securities and Exchange Commission must propose rules within 12 months and finalize them within 30 months
- Forms must give buyers the information needed to make knowledgeable decisions
- The agency must test investors for one type of annuity and use the results in the forms
- If rules are late, certain annuities and life insurance can use existing forms
In committee