Regulatory & Compliance | 09.03.26

New Bill Requires SEC To Create Life Insurance, Annuity Registration Forms

by: Melanie Waddell

The e Consumer-Led Enhancement of Annuity and Insurance Registration (CLEAR) Forms Act introduced in the House would require the U.S. Securities and Exchange Commission (SEC) to develop registration forms specifically tailored to registered index-linked life insurance, contingent deferred annuities and other registered non-variable insurance products. Supporters say current forms, designed largely for corporate securities, make important consumer information difficult to find while creating costly compliance burdens for insurers. The bill would require proposed forms within 12 months and final rules within 30 months, while preserving state insurance laws. It also calls for investor testing for contingent deferred annuities and allows comparable existing forms if the SEC misses deadlines.

Read the full article on Think Advisor