The Securities and Exchange Commission (SEC) has agreed to a two year "stay" on SEC Rule 151A.
SEC Rule 151A is a contentious rule that, from a regulation standpoint, would treat fixed indexed annuities as securities rather than insurance products.
The securities regulation would be under FINRA oversight.
The stay basically postpones the rule's proposed January 12, 2011 effective date for a period of two years.
Source: Wall Street Journal
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