The bill to streamline regulatory paperwork for index-linked annuities approved by the US Senate is now waiting a vote in the House of Congress.
The US Senate approved legislation on 6 December to reduce market barriers for the sale of registered index linked annuities (Rilas). Currently, Rilas must register under ‘catch all’ forms, which often require information that isn’t relevant to Rilas. The bill is intended to simplify and shorten the Rila registration process and increase their market supply. Once the bill is passed, the SEC will have 180 days to create a new registration form customised to the needs of Rilas.
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