Regulatory Notice 09-32
SEC Approves Amendments to NASD Rule 2821 Governing Purchases and Exchanges of Deferred Variable Annuities
On April 15, 2009, the SEC approved amendments to NASD Rule 2821 governing purchases and exchanges of deferred variable annuities. Among other things, the amendments:
- limit the rule's application to recommended transactions;
- change the triggering event that begins the principal review period; and
- clarify various other issues through new supplementary material to the rule.
The rule text is set forth in Attachment A and is effective February 8, 2010.
Questions regarding this Notice should be directed to:
- James S. Wrona, Associate Vice President and Associate General Counsel, Office of General Counsel, at (202) 728-8270; or
- Lawrence N. Kosciulek, Director, Investment Companies Regulation, at (240) 386-4535.