SCS/HB 1665 - The act provides that the department of insurance will have sole state authority for regulating the variable annuities. Such annuities and the companies and agents that sell them will not be subject to registration with the commissioner of securities for the sale of these annuities. The department of insurance shall adopt and enforce investor protection standards for investor suitability and agent supervision consistent with the Conduct Rules of the National Association of Securities Dealers for variable annuities.
JIM ERTLE