#aagth ,,congress  #b;d ,session  ,s4   
#caih  ,,an ,,act  ,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 annuities1  
and for other purposes4  #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     
,commission ,the term ,commission means 
the ,securities and ,exchange           
,commission4  7#b7 ,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#c7 ,market 
value adjustment ,the term market value 
adjustment means1 with respect to a     
registered index-linked annuity1 after  
an early withdrawal or contract         

discontinuance-- 7,a7 an adjustment to  
the value of that annuity based on      
calculations using a predetermined      
formula2 or  7,b7 a change in interest  
rates 7or other factor1 as determined by
 the ,commission7 that apply to that    
annuity4  7#d7 ,purchaser ,the term     
purchaser means a purchaser of a        
registered index-linked annuity4  7#e7  
,registered index-linked annuity ,the   
term registered index-linked annuity    
means an annuity-- 7,a7 that is deemed  
to be a security2  7,b7 that is         
registered with the ,commission in      
accordance with section #e of the       
,securities ,act of #aicc 7#ae ,u4,s4,c4
 #gg;e72  7,c7 that is issued by an     
insurance company that is subject to the
 supervision of-- 7i7 the insurance     
commissioner or bank commissioner of any
 ,state2 or  7ii7 any agency or officer 
performing like functions as a          
commissioner described in clause 7i72   
7,d7 that 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 rate 
7or a registered exchange traded fund   
that seeks to track the performance of a
 specified benchmark index or rate72 and
  7ii7 may be subject to a market value 
adjustment if amounts are withdrawn     
before the end of the period during     
which that market value adjustment      
applies4  7#f7 ,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 ,rules  7#a7 ,in general ,not later 
than #ahj days after the date of        
enactment of this ,act1 the ,commission 
shall propose1 and1 not later than #ah  
months after the date of enactment of   
this ,act1 the ,commission shall prepare
 and finalize1 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 that registered    
index-linked annuity1 subject to        

conditions the ,commission determines   
appropriate1 which may include requiring
 the issuer to take the steps described 
in section #bdj4ab;h-#g7;e7 of title    
#ag1 ,code of ,federal ,regulations1 or 
any successor regulation1 with respect  
to the registered index-linked annuity4 
7#b7 ,design of form ,in developing the 
form required to be established under   
paragraph 7#a71 the ,commission shall-- 
7,a7 design the form to ensure that a   
purchaser using the form receives the   
information necessary to make           
knowledgeable decisions1 taking into    
account-- 7i7 the availability of       
information2  7ii7 the knowledge and    
sophistication of that class of         
purchasers2  7iii7 the complexity of the
 registered index-linked annuity2 and   
7iv7 any other factor the ,commission   
determines appropriate2  7,b7 engage in 
investor testing2 and  7,c7 incorporate 
the results of the testing required     
under subparagraph 7,b7 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 rules not
 prepared and finalized in a timely     
manner  7#a7 ,in general ,if1 as of the 
date that is #ah months after the date  
of enactment of this ,act1 the          
,commission has failed to prepare and   
finalize the rules required under       
subsection 7b77#a71 any registered      
index-linked annuity may be registered  
on the form described in section        
#bci4ag;b of title #ag1 ,code of        
,federal ,regulations1 or any successor 
regulation4  7#b7 ,preparation ,a       
registration described in paragraph 7#a7
 shall be prepared pursuant to          
applicable provisions of the form       
described in that paragraph4  7#c7      
,termination ,this subsection shall     
terminate upon the establishment by the 
,commission of the form described in    
subsection 7b74  7d7 ,rules of          
construction ,nothing in this section   
may be construed to-- 7#a7 limit the    

authority of the ,commission to-- 7,a7  
determine the information to be         
requested in the form described in      
subsection 7b72 or  7,b7 extend the     
eligibility for the form described in   
subsection 7b7 to a product that is     
similar to1 but is not1 a registered    
index-linked annuity2 or  7#b7 preempt  
any ,state law1 regulation1 rule1 or    
order4  ,passed the ,senate ,december   
#f1 #bjbb4,secretary