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IIABA Bashes SEC Indexed Annuities Proposal

WASHINGTON--The Independent Insurance Agents and Brokers of America has lashed out against a Securities and Exchange Commission proposal to regulate equity indexed annuities and securities as "unwarran

By Arthur D. Postal | Updated on August 29, 2008

WASHINGTON–The Independent Insurance Agents and Brokers of America has lashed out against a Securities and Exchange Commission proposal to regulate equity indexed annuities and securities as “unwarranted and counterproductive.”

The IIABA also said in a comment it filed with the SEC that in proposing federal oversight of EIAs the agency did not keep in mind the potential problems it would create for licensed insurance agents, who would be forced to associate with broker-dealers and get a securities license in order to keep selling them.

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