September 2, 2008
Already The Product and sale of Anuities is very well regulated by Insurance Commissioner's office.(Especially within last few years ).
There is no such thing as 100% fool proof regulation., thats why though SEc has done wonderful super job yet how many millions have lost money in many many investments regulated by them, how many brokerage houses and brokers have been displined , good and bad apples are there all over the world, Crime is there all over the world otherwise this earth should have been heaven with Angeles only.
Therefore, I strongly and firmly believe there is not even 1% benefit to the consumers by SEC controlled new regulations except more and more red tapism , more and more headache.