2019-02906: Reopening of Comment Period for Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts
Public comment closed .
Get alerted when the next rule lands
New rules open for comment on their own schedule. Pick how you want to hear about them — we email you when one appears.
Publishing to members? Embed a live rule tracker on your own site — the proposed rules in your area and the comment deadlines closing on them, updating themselves. Free, one line of HTML.
Create a free account & build one →Summary
The Securities and Exchange Commission is reopening the comment period for a proposal to amend rules and forms to help investors make informed investment decisions regarding variable annuity and variable life insurance contracts. The proposal would permit persons to satisfy their prospectus delivery obligations under the Securities Act of 1933 for a variable annuity or variable life insurance contract and any associated portfolio companies by sending or giving a summary contract prospectus to investors and making the statutory and portfolio company prospectuses available online. In addition, the proposal would amend the registration forms for variable annuity and variable life insurance contracts to update and enhance the disclosures to investors in these contracts, and would require the Inline eXtensible Business Reporting Language ("Inline XBRL") format for certain required disclosures in the variable contract statutory prospectus. The proposal would also make certain technical and conforming amendments to our rules and forms, as well as rescission of certain related rules and forms, and seek comments regarding parallel amendments to rules governing mutual fund summary prospectuses and registration forms applicable to other types of registered investment companies. The original comment period ended on February 15, 2019. The Commission is reopening the time period in which to provide the Commission with comments until March 15, 2019. This action will allow interested persons additional time to analyze the issues and prepare their comments.
The agency’s own summary, as published.
What this changes
Amends 6 parts of the Code of Federal Regulations — the standing rules this notice rewrites.
- 17 CFR 230 General Rules and Regulations, Securities Act of 1933
- 17 CFR 232 Regulation S-T—General Rules and Regulations for Electronic Filings
- 17 CFR 239 Forms Prescribed Under the Securities Act of 1933
- 17 CFR 240 General Rules and Regulations, Securities Exchange Act of 1934
- 17 CFR 270 Rules and Regulations, Investment Company Act of 1940
- 17 CFR 274 Forms Prescribed Under the Investment Company Act of 1940
Rulemaking docket
We haven’t pulled this rulemaking’s full docket yet.
Don't miss the comment window
One Click Politics alerts you on every deadline, hearing, and rule change.
See all rules with comments due soon →