Sec Speeches Cryptocurrency Statement on the Proposal for Registration for Index-Linked Annuities and the Investor Testing Report

I am pleased that the Commission has proposed rule and Form amendments to implement the bipartisan Registered Index-Linked Annuities Act of 2022 (“RILA Act”), which directs the Commission to adopt a new registration form for RILAs within 18 months of enactment.[1]  The RILA Act also requires the Commission to engage in investor testing.  To comply with this requirement, the Office of the Investor Advocate has issued its Investor Testing Report on RILAs, which describes the Office’s qualitative and quantitative analysis regarding RILA disclosures.  I encourage the public to comment on the proposal and to offer their views on how key information about RILAs can be conveyed in an understandable way.