CFP Board Urges Congress to Oppose Amendment Related to Equity Indexed Annuities

On June 17, 2010, CFP Board wrote to Congressional leaders negotiating regulatory reform legislation to oppose a proposed amendment that would strip the SEC of its authority to oversee sales practices in connection with equity indexed annuities. In its letter, CFP Board urged Congress to ensure adequate investor protections in the sale of equity indexed annuities by allowing the SEC to exercise its appropriate authority over these products. Registration of these products with the SEC will increase disclosure to investors regarding their terms, risks, and costs; deter abusive sales practices; and provide victims with more effective remedies.

Read CFP Board’s letter (PDF, 64KB)