CLEAR Forms Act

This bill would require the Securities and Exchange Commission (SEC) to create registration forms for certain insurance products that are also securities, such as contingent deferred annuities, registered index-linked life insurance, and other registered non-variable insurance contracts. The SEC would have to propose the rules within 12 months and finalize them within 30 months after the law takes effect. The forms would be designed to give buyers the information they need, and the SEC would have to test the contingent deferred annuity forms with investors. If the SEC does not finish the rules in 30 months, these products could be registered on existing SEC forms until the rules are final. The bill states that it does not override any state or territory law.

Full text and official record on Congress.gov

Sponsors

• Zachary Nunn Republican sponsor
• 2 cosponsors