,i  #aagth ,,congress  #ast ,session    
,h4 ,r4 #dhfe  ,,in ,,the ,,house ,,of  
,,representatives  ,july #cj1 #bjba ,ms4
 ,adams 7for herself1 ,mr4 ,phillips1   
and ,mr4 ,gonzalez of ,ohio7 introduced 
the following bill2 which was referred  
to the ,committee on ,financial         
,services  ,a ,,bill  ,to direct the    
,securities and ,exchange ,commission to
 revise any rules necessary to enable   
issuers of index-linked annuities to    
register on a form tailored specifically
 to registered index-linked annuities4  
#a4 ,short title ,this ,act may be cited
 as the ,registration for ,index-,linked
 ,annuities ,act4  #b4 ,parity for      
registered index-linked annuities       
regarding registration rules  7a7       
,definitions ,in this section3  7#a7    
,investment company ,the term investment
 company has the meaning given the term 
in section #c of the ,investment        
,company ,act of #aidj 7#ae ,u4,s4,c4   
#hj;a-#c74  7#b7 ,market value          
adjustment ,the term market value       

adjustment means1 with respect to a     
registered index-linked annuity--  7,a7 
an adjustment to the value of such      
annuity based on calculations using a   
predetermined formula2 or  7,b7 a change
 in interest rates 7or other factor1 as 
determined by the ,securities and       
,exchange ,commission7 that applies to  
such annuity following an early         
withdrawal or contract discontinuance4  
7#c7 ,purchaser ,the term purchaser     
means a purchaser of a registered       
index-linked annuity4  7#d7 ,registered 
index-linked annuity ,the term          
registered index-linked annuity means an
 annuity that--  7,a7 is deemed a       
security2  7,b7 is required to be       
registered with the ,securities and     
,exchange ,commission2  7,c7 is issued  
by an insurance company that is subject 
to the supervision of the insurance     
commissioner of the applicable ,state2  
7,d7 is not issued by an investment     
company2 and  7,e7 the returns of       
which-- 7i7 are based on the performance

 of a specified benchmark index or rate2
 and  7ii7 may be subject to a market   
value adjustment if amounts are         
withdrawn prior to the end of the period
 during which such adjustment applies4  
7#e7 ,security ,the term security has   
the meaning given the term in section   
#b7;a7 of the ,securities ,act of #aicc 
7#ae ,u4,s4,c4 #gg;b7a774  7b7 ,revision
 to rules  7#a7 ,in general ,not later  
than #ahj days after the date of the    
enactment of this ,act1 the ,securities 
and ,exchange ,commission shall propose 
and1 not later than #ah months after the
 date of enactment of this ,act1 the    
,commission shall prepare and finalize  
any new or amended rules1 as            
appropriate1 to establish a new form in 
accordance with paragraph 7#b7 on which 
an issuer of a registered index-linked  
annuity may register such registered    
index-linked annuity1 subject to        
conditions the ,commission determines   
appropriate4  7#b7 ,design of form ,in  
developing the form to be established   

under paragraph 7#a71 the ,securities   
and ,exchange ,commission shall--  7,a7 
design such form to ensure that         
purchaser using such form receive the   
information necessary to make           
knowledgeable decisions1 taking into    
account-- 7i7 the availability of       
information2  7ii7 the knowledge and    
sophistication of such purchasers2      
7iii7 the complexity of the registered  
index-linked annuity2 and  7iv7 any     
other factors the ,commission determines
 appropriate2 and  7,b7 engage in       
investor testing and incorporate the    
results of such testing in the design of
 the form1 with the goal of ensuring    
that key information is conveyed in     
terms that a purchaser is able to       
understand4  7c7 ,treatment if revisions
 not completed in a timely manner ,if   
the ,securities and ,exchange           
,commission fails to complete the       
revisions required by subsection 7b77#a7
 by the time required by such           
subsection1 any registered index-linked 

annuity may be registered on the form   
described in section #bci4ag;b of title 
#ag1 ,code of ,federal ,regulations4    
,such registration shall be prepared    
pursuant to applicable provisions of the
 form4  7d7 ,rule of construction       
,nothing in this ,act shall be construed
 to--  7#a7 limit the authority of the  
,securities and ,exchange ,commission to
 determine the information to be        
requested in the form described in      
subsection 7b72 or  7#b7 preempt any    
,state law1 regulation1 rule or order4