,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #fiid  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #bb1 #bjbj,mr4   
,phillips 7= himself & ,mr4 ,/iv]s7     
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to direct ! ,securities &      
,ex*ange ,commission to revise any rules
 necess>y to enable issu]s ( index-l9k$ 
annuities to use ! securities (f]+ =ms t
 are available to o!r issu]s (          
securities4  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,regi/ration =          
,index-,l9k$ ,annuities ,act4  #b4      
,p>ity = regi/]$ index l9k$ annuities   
reg>d+ regi/ration rules  7a7 ,def9ition
 ,9 ?is section1 ! t]m regi/]$ index    
l9k$ annuity means an annuity t-- 7#a7  
is deem$ a security2  7#b7 is requir$ to
 be regi/]$ ) ! ,securities & ,ex*ange  
,commission2  7#c7 t is issu$ by an     
insurance company t is subject to !     
sup]vision ( ! insurance commission] ( !
 applicable ,/ate2  7#d7 is n issu$ by  
an inve/m5t company2 &  7#e7 ! returns (

 :i*-- 7,a7 are bas$ on ! p]=mance ( a  
specifi$ index rate or o!r f9ancial     
track+ vehicle2  7,b7 are subject to a  
modification ( positive & negative      
returns by a f9ancial calculation       
me*anism2 &  7,c7 may be subject to a   
m>ket value adju/m5t if am\nts are      
)drawn prior to ! end ( ! p]iod dur+ :i*
 su* adju/m5t applies4  7b7 ,revision to
 rules ,n lat] ?an ! end ( ! #ahj-;day  
p]iod beg9n+ on ! date ( enactm5t ( ?is 
,act1 ! ,securities & ,ex*ange          
,commission %all propose &1 n lat] ?an  
#a ye> aft] ! date ( enactm5t ( ?is     
,act1 ! ,commission %all prep>e &       
f9alize any new or am5d$ rules1 z       
appropriate1 to e/abli% a new =m on :i* 
an issu] ( a regi/]$ index l9k$ annuity 
may regi/] su* regi/]$ index l9k$       
annuity1 subject to conditions !        
,commission det]m9es appropriate4 ,any  
action t ! ,securities & ,ex*ange       
,commission takes pursuant to ?is       
subsection %all consid] ! availability (
 in=mation to inve/ors4  7c7 ,treatm5t  

if revisions n complet$ 9 a timely mann]
 ,if ! ,securities & ,ex*ange           
,commission fails to complete !         
revisions requir$ by subsection 7b7 by !
 "t requir$ by su* subsection1 any      
regi/]$ index l9k$ annuity may be       
regi/]$ on ! =m describ$ 9 section      
#bci4ag;b ( title #ag1 ,code ( ,f$]al   
,regulations4 ,su* regi/ration %all be  
prep>$ pursuant to applicable provisions
 ( ! =m4  7d7 ,rule ( con/ruction ,no?+ 
9 ?is ,act %all be con/ru$ to limit !   
au?ority ( ! ,securities & ,ex*ange     
,commission to det]m9e ! in=mation to be
 reque/$ 9 ! =m describ$ 9 subsection   
7b74