How Are Variable Annuities Regulated?

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    David RacichPRO
    Fountain Hills, Arizona
    A variable annuity has two regulatory bodies of oversight that have standalone jurisdiction for each regulator. A variable annuity is a security governed by the SEC and sold through FINRA registered representatives hold at least a series 6 and 63 license. It also has an insurance component to it as well. And to the extent that it is an insurance product is subject to the department of insurance jurisdiction.
     
    Answered on May 21, 2013
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