Regulatory & Compliance | 09.17.26

House Financial Services Committee Backs Life and Annuity Registration Form Bill

by: Allison Bell

The U.S. House Financial Services Committee voted 42-7 to advance the CLEAR Forms Act, which would require the U.S. Securities and Exchange Commission (SEC) to create registration forms specifically designed for certain life insurance and annuity products, including registered index-linked life insurance and contingent deferred annuities. Supporters argue the current SEC forms are designed for traditional securities offerings and are unnecessarily complex for insurers, while the new forms could streamline registration and provide consumers with clearer information. If the SEC does not create the forms within 30 months, insurers could use existing registration forms. The bill was supported by all participating Republicans and 14 of 21 participating Democrats. Critics argue the legislation could weaken investor protections, reduce regulatory oversight and give insurers too much influence over the registration process.

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