Regulatory Alerts2020-05-18 | C2-2020-05526Added
Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts
The Securities and Exchange Commission issued a correction to its prior rule document regarding updated disclosure requirements and summary prospectuses for variable annuity and variable life insurance contracts. This correction amends Form N-4 by removing specific item paragraphs and revises Form N-6 to update regulatory compliance standards. The changes are scheduled to take effect on January 1, 2022, ensuring accurate reporting for these financial products.
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