NAIC Reaction to SEC Finalizing Rules to Enhance Investor Protections

The NAIC commends the U.S. Securities and Exchange Commission (SEC) on finalizing its rules to enhance retail investor protections. The NAIC will take under consideration the SEC's final rules as we continue our own work in enhancing protections for policyholders through changes to the NAIC's Suitability in Annuity Transactions Model Regulation. As state insurance departments regulate entities and products that may also be subject to SEC regulation, the NAIC anticipates harmonizing our work where appropriate with due deference to the unique nature of insurance products.