Friday, August 17, 2007
The Annuity Conflict
Will the fourth time finally be the charm for NASD Rule 2821? The most recent amendment to 2821--the proposed rule on the suitability and supervision of deferred variable annuities--has been awash in attention from commentators and critics alike.
In response to brokerage firms and their trade groups, who have been critical of the proposed rule from its inception, the NASD has spent the last three years fine-tuning 2821. But the tinkering illustrates just how controversial this rule--currently pending before the Securities and Exchange Commission--is for the U.S. variable annuity marketplace, which grew to record size in 2006 with approximately $1.4 trillion in assets.
The Annuity Conflict
Source: On Wall Street
In response to brokerage firms and their trade groups, who have been critical of the proposed rule from its inception, the NASD has spent the last three years fine-tuning 2821. But the tinkering illustrates just how controversial this rule--currently pending before the Securities and Exchange Commission--is for the U.S. variable annuity marketplace, which grew to record size in 2006 with approximately $1.4 trillion in assets.
The Annuity Conflict
Source: On Wall Street
Permalink posted by armandn @ 5:22 AM 
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