SEC Investor Advocate: RILAs Are Hard for Consumers to Understand
December 11, 2023 by Allison Bell
Researchers at the Securities and Exchange Commission’s Office of the Investor Advocate had a hard time getting the information they wanted to analyze registered index-linked annuities, and consumers showed little understanding of the RILA disclosures tested.
When the researchers gave 2,500 consumers who read RILA disclosures a true-and-false test, the consumers answered only 58% of the questions correctly.
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Originally Posted at Think Advisor on December 7, 2023 by Allison Bell.
Categories: Industry Articles