SEC Proposes Summary Prospectus for Variable Insurance Products
Carlton Fields attorney Gary Cohen authored an article in The Review of Securities & Commodities Regulation titled, “SEC Proposes Summary Prospectus for Variable Insurance Products” on the SEC’s proposed disclosure reforms for life insurance companies issuing variable annuities and variable life insurance.
The key proposal is a summary prospectus, which would provide offerees with a brief disclosure document backed by electronic access to a full statutory prospectus available on the life insurance company’s website.
Cohen advises that the summary prospectus could facilitate decision making for investors, increase sales for life insurance companies, and augment assets under management for mutual fund investment advisors, and is expected to pass after revisions from industry members.
Click here to view the article.
