,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #dhfe  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #cj1 #bjba ,ms4 
,adams 7= h]self1 ,mr4 ,phillips1 & ,mr4
 ,gonzalez ( ,ohio7 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 regi/] on a =m tailor$ specifically 
to regi/]$ index-l9k$ annuities4  #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 
,def9itions ,9 ?is section3  7#a7       
,inve/m5t company ,! t]m inve/m5t       
company has ! mean+ giv5 ! t]m 9 section
 #c ( ! ,inve/m5t ,company ,act ( #aidj 
7#ae ,u4,s4,c4 #hj;a-#c74  7#b7 ,m>ket  
value adju/m5t ,! t]m m>ket value       
adju/m5t means1 ) respect to a regi/]$  
index-l9k$ annuity--  7,a7 an adju/m5t  
to ! value ( su* annuity bas$ on        

calculations us+ a pr$et]m9$ =mula2 or  
7,b7 a *ange 9 int]e/ rates 7or o!r     
factor1 z det]m9$ by ! ,securities &    
,ex*ange ,commission7 t applies to su*  
annuity foll[+ an e>ly )drawal or       
contract discont9uance4  7#c7 ,pur*as]  
,! t]m pur*as] means a pur*as] ( a      
regi/]$ index-l9k$ annuity4  7#d7       
,regi/]$ index-l9k$ annuity ,! 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 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*-- 7i7 are bas$ on !
 p]=mance ( a specifi$ b5*m>k index or  
rate2 &  7ii7 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  7#e7 ,security ,! t]m
 security has ! mean+ giv5 ! t]m 9      
section #b7;a7 ( ! ,securities ,act (   

#aicc 7#ae ,u4,s4,c4 #gg;b7a774  7b7    
,revision to rules  7#a7 ,9 g5]al ,n    
lat] ?an #ahj days aft] ! date ( !      
enactm5t ( ?is ,act1 ! ,securities &    
,ex*ange ,commission %all propose &1 n  
lat] ?an #ah mon?s aft] ! date (        
enactm5t ( ?is ,act1 ! ,commission %all 
prep>e & f9alize any new or am5d$ rules1
 z appropriate1 to e/abli% a new =m 9   
accordance ) p>agraph 7#b7 on :i* an    
issu] ( a regi/]$ index-l9k$ annuity may
 regi/] su* regi/]$ index-l9k$ annuity1 
subject to conditions ! ,commission     
det]m9es appropriate4  7#b7 ,design ( =m
 ,9 develop+ ! =m to be e/abli%$ "u     
p>agraph 7#a71 ! ,securities & ,ex*ange 
,commission %all--  7,a7 design su* =m  
to ensure t pur*as] us+ su* =m receive !
 in=mation necess>y to make kn[l$geable 
decisions1 tak+ into acc\nt-- 7i7 !     
availability ( in=mation2  7ii7 ! k &   
sophi/ication ( su* pur*as]s2  7iii7 !  
complexity ( ! regi/]$ index-l9k$       
annuity2 &  7iv7 any o!r factors !      
,commission det]m9es appropriate2 &     

7,b7 engage 9 inve/or te/+ & incorporate
 ! results ( su* te/+ 9 ! design ( ! =m1
 ) ! goal ( ensur+ t key in=mation is   
convey$ 9 t]ms t a pur*as] is able to   
und]/&4  7c7 ,treatm5t if revisions n   
complet$ 9 a timely mann] ,if !         
,securities & ,ex*ange ,commission fails
 to complete ! revisions requir$ by     
subsection 7b77#a7 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--  7#a7 limit ! au?ority ( ! 
,securities & ,ex*ange ,commission to   
det]m9e ! in=mation to be reque/$ 9 ! =m
 describ$ 9 subsection 7b72 or  7#b7    
preempt any ,/ate law1 regulation1 rule 
or ord]4