02.18.19
SEC Extends Comment Period on VA Summary Prospectus Plan
by: Melanie Waddell
The SEC is extending by one month the comment period for its proposed rulemaking on a variable annuity summary prospectus. The original comment period expired February 15 but has been extended to March 15. Dalia Blass, director of the SEC's Investment Management Division, said in November, “What started out as a process to propose a summary prospectus became so much more." The proposal offers layered disclosure to insurance products, updates registration forms, takes a fresh look at addressing discontinued contracts, and leverages technology, she said.
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