Securities and Exchange Commission 2024 – Federal Register Recent Federal Regulation Documents

The Securities and Exchange Commission ("Commission") is adopting rule and form amendments to provide a tailored form to register the offerings of registered index-linked annuities ("RILAs"). Specifically, the Commission is amending the form currently used by most variable annuity separate accounts, Form N-4, to require issuers of RILAs to register offerings on that form as well. To facilitate this amendment, the Commission is also amending certain filing rules and making other related amendments. These changes will implement the requirements relating to RILAs contained in the Consolidated Appropriations Act, 2023. The Commission is also extending the registration, filing, and disclosure requirements that the Commission is adopting for RILA offerings to the offerings of registered market value adjustment annuities. Further, the Commission is adopting other amendments to Form N-4 that will apply to all issuers that use that form. The Commission is applying to RILA and registered market value adjustment annuity advertisements and sales literature a current Commission rule that provides guidance as to when sales literature is materially misleading under the Federal securities laws. Finally, the Commission is adopting technical amendments to Forms N-6 and N-3 to correct errors from prior Commission rulemakings.

Due to a technological error, members of the public who sought to submit a comment to the Securities and Exchange Commission ("Commission") using the online comment form option on the Commission website may have received a message indicating that they were unable to complete a submission using the online form. The technological error, which occurred from May 30 until June 26, 2024, has been resolved. Interested parties that wish to submit a comment using the online comment form option may do so by visiting https://www.sec.gov/rules- regulations/how-submit-comment. Comments already received and posted on the Commission website need not be resubmitted.