Rule 151A Task Force

Welcome to the home page of the Rule 151A Task Force. The Rule 151A Task Force's mission is to monitor and report on the following:

• Legal challenges to Rule 151A

  • Status of Coalition of Insurers' Petition for Review of the Rule in the U.S. Court of Appeals for the D.C. Circuit

  • Whether other legal avenues may be available to challenge the Rule

• Legislative attack on Rule 151A:

  • Status of efforts to incorporate Anti-151A legislation into pending Financial Reform Legislation

• SEC Revisions to Rule 151A as a result of its pending analysis of the Rule's impact on efficiency, competition, and capital formation

• Implications of Rule 151A for product registration and disclosure

• Implications of Rule 151A insurance agents and marketing organizations

• Implications of Rule 151A for other insurance products with index-linked returns

If you have a question or comment, please contact Gary Cohen or Kristin Shepard.

What's New

• Rule 151A Vacated

• Amended Judgment Vacating 151A

• Order Accompanying Judgment Vacating 151A

• Reissued 151A Opinion

• SEC Breaks Six-Month Silence on Rule 151A

• SEC Status Report

• Amendment to HR 4173

Articles

• SEC Fights to Save Rule 151A, Expect Focus, Vol. I Winter 2010

• Litigation to Overturn SEC Index Annuity Rule, The Investment Lawyer, Vol. 16, No. 7, July 2009

• Spotlight on 151A, Expect Focus Vol. I Winter 2009

• More Uncertain Times for Indexed Annuities, Expect Focus, Vol. I Winter 2009

• Parsing the 151A Labryinth, Expect Focus, Vol. IV Fall 2008

• Proposed Rule 151A Sweeping Changes, Expect Focus, Vol. III Summer 2008

Client Alerts

• Rule 151A Vacated, July 13, 2010

• SEC Breaks Six-Month Silence on Rule 151A, June 23, 2010

• SEC Decides To Proceed with Rule 151A Analysis, But Subject to a Two-Year Stay, December 9, 2009

• Additional Briefing in Rule 151A Litigation, December 2, 2009

• SEC Responds to Old Mutual Petition for Two-Year Stay of Rule 151A, September 29, 2009

• Mixed Results in Rule 151A Opinion, July 22, 2009

• SEC Invites Company Input on Index Annuity Rule 151A, May 29, 2009

• Rule 151A Litigation Oral Argument, May 11, 2009

• SEC Adopts New Registration Rule for Index Annuities, December 17, 2008
  

151A Litigation

• Ameican Equity Opening Brief
• NAIC & NCOIL Petition for Consolidation with American Equity Petition Document
• NAIC & NCOIL Petition for Review of 151A
• NAIC Opening Brief Phillip Roy Financial Services and Phillip Wasserman Amicus Brief
• Allianz Life Insurance Company Petition as Amicus Curiae
• Allianz Life Insurance Company Brief SEC's Brief
• Oral Argument in Suit Against SEC
• Clerk's Order
• Judgment
• Opinion
• American Equity Order
• Petition for Panel Rehearing
• SEC Response to Petition for Panel Rehearing
• U.S. Court of Appeals Order for Additional Briefs
• OM Financial Life Insurance Company's Supplemental Brief
• OM Financial Life Insurance Company's Second Supplemental Brief
• American Equity Supplemental Brief
• American Equity's Second Supplemental Brief
• Unopposed Motion for Leave
• SEC Supplemental Brief
• American Equity Second Supplemental Brief on Petition for Review of Final Rule
• OM Financial Life Insurance Company's Second Supplemental Brief in Support of its Petition for Panel Rehearing
• SEC Status Report
• Amended Judgment Vacating 151A
• Order Accompanying Judgment Vacating 151A
• Reissued 151A Opinion

SEC Releases and Comments

• Text of SEC's Adopting Release
• Text of Commissioner Parades' Dissent

Anti-151A Legislation

• H.R. 2733 Fixed Indexed Annuities and Insurance Products Classification Act of 2009
  
• S. 1389 Fixed Indexed Annuities and Insurance Products Classification Act of 2009
  
• Amendment to S. 1389 - amendment to the Restoring Financial Stability Act financial reform bill that would nullify Rule 151a by vesting power to regulate indexed annuities with the states
  
• Amendment to H.R. 4173 - amendment to the Restoring Financial Stability Act financial reform bill that would enhance the protection of seniors and other consumers

Our Team

Resources

• Agents Sales Journal
  
• Stop SEC 151A
  
• NAFA No 151A