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SEC Proposes Summary Prospectus for Variable Insurance Products (Cohen)  

Author:  Gary O. Cohen.

Source: Volume 52, Number 12, June 15 2019 , pp.143-148(6)

Review of Securities & Commodities Regulation

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More than a decade after doing so for mutual funds, the SEC has proposed disclosure reforms for life insurance companies issuing variable annuities and variable life insurance. The key proposal is a summary prospectus that could facilitate decision-making for investors, boost sales for life insurance companies, and increase assets under management for mutual fund investment advisers. The author describes the proposal in the context of the SEC’s checkered history of regulating variable insurance products.

Keywords: Two-Tier Disclosure; Rule 498A; Initial Summary Prospectus

Affiliations:  1: Carlton Fields, P.A..

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