HR 6994
116th Congress
House
Finance and Financial Sector
Insurance industry and regulation
Interest, dividends, interest rates
Licensing and registrations
Performance measurement
Securities
Securities and Exchange Commission (SEC)
Registration for Index-Linked Annuities Act
Introduced: May 22, 2020
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 2020
Referred to the House Committee on Financial Services.
May 22, 2020
Introduced in House
Plain-English summary
Registration for Index-Linked Annuities Act
This bill requires the Securities and Exchange Commission (SEC) to create a new form for the registration of index linked annuities.
The bill defines a registered index linked annuity as an annuity that is deemed a security, that must be registered with the SEC, and that is issued by an insurance company subject to state supervision. Furthermore, the returns of these annuities (1) are based on the performance of a specified index rate or other financial tracking vehicle, (2) are subject to modification by a financial calculation mechanism, and (3) may be subject to a market value adjustment if amounts are withdrawn early.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1