American Equity Investment Life Insurance Company, et al., v. Securities and Exchange Commission, Case No. 09-1021 (D.C. Cir.)
Rule 151A was adopted by the SEC in April 2009 and purported to regulate indexed annuities under its authority to regulate securities. On July 21, 2009, the D.C District Court found that indexed annuities were, in fact, securities, and therefore did not fall within the exemption for annuities from the Securities Act of 1933, but remanded a challenge to Rule 151A on the basis that the SEC had failed to satisfy the requirements of Section 2(b) of the Act requiring the SEC to consider the effects of its rules on efficiency, competition, and capital formation.
View Entire Summary
DRI Insurance Coverange and Claims Institute - April 14-16, 2010, 2010
Whether you are a seasoned veteran or are new to the coverage and claims arena, DRI’s Insurance Coverage and Claims Institute will increase your understanding of new and emerging issues to give you an edge. The speakers are drawn from top defense attorneys, in-house counsel, claims personnel, insurance regulators and judges to bring you new views and different perspectives on the latest coverage and claims issues. Attendees can also select from two different tracks to get an in-depth look at insurance bad faith claims or professional liability issues.
CLICK HERE to register.