151a Update from Washington
September 1, 2009 - Back to Deck's Page
151a Update from Washington
In the near future, I will be sending thoughts from my visit to Washington regarding this critical issue.
Please see the attached letter from Mary Schapiro, Chairman of the SEC, to Senator Ben Nelson. While, Chairman Schapiro makes no commitments on the SEC's position with respect to 151A, as you can see, it is a cordial letter promising the SEC will hold meetings with regulators and industry. Overall, this is a positive development - especially the fact that the SEC Chairman is now aware of Congressional interest in 151A.
There is still a long way to go! While it is clear that the Congressional pressure is helping getting more sponsors, and additional support will ensure a victory for indexed annuities, our work IS NOT DONE!
Please consider contacting your representative today and ask them to sponsor the bill. 32 House sponsors confirmed, prior to recess and another 15 or so have committed since but the rest cannot confirm until they return from recess. There are 7 Senators and another dozen or so who are close to signing.
NOW IS THE TIME TO KEEP COMMITTED OR TO GET NEW COMMITMENTS.
Visit www.nafa.com and click on the 151A tab or go to www.sec151A.com and follow the easy instructions.
Thanks for all your support!