Regulatory Alerts2019-02-21 | 2019-02906Added
Reopening of Comment Period for Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts
The Securities and Exchange Commission has reopened the public comment period for proposed rules regarding updated disclosure requirements and summary prospectuses for variable annuity and variable life insurance contracts. The proposal aims to help investors make informed decisions by permitting the delivery of summary contract prospectuses online while enhancing statutory disclosures and requiring Inline XBRL formatting for certain documents. The Commission extended the deadline for submitting comments from February 15, 2019, to March 15, 2019, to allow interested parties additional time to analyze the issues and prepare comprehensive responses.
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