Congress Urged To Cut ‘Regulatory Barriers’ To Index-Linked Annuities
June 9, 2020 by John Hilton
Four industry organizations are rallying behind legislation to open up access to index-linked annuities.
The measure, the Registration for Index Linked Annuities (RILA) Act, is sponsored by Sen. Tina Smith, D-Minn., Sen. Thom Tillis, R-N.C., Rep. Dean Phillips, D-Minn., and Rep. Steve Stivers, R-Ohio. It directs the Securities and Exchange Commission to devise a new form for annuity issuers to use when filing registered index-linked annuities.
House and Senate versions of the legislation were introduced in May.