SEC's New Variable Contract Disclosures Promote Readability

Law360 (April 8, 2020, 5:57 PM EDT) -- On March 11, the U.S. Securities and Exchange Commission adopted a new rule, and related rule and form amendments, to improve disclosure for investors about variable annuities and variable life insurance contracts.[1] The changes will permit a variable contract to use a summary prospectus, in accordance with new Rule 498A under the Securities Act of 1933.[2]

The new summary prospectus will satisfy prospectus delivery obligations for a variable contract, and is designed to provide investors with a concise, reader-friendly document designed to improve their understanding of the investment’s features, fees and risks.[3]

The document also draws on a layered disclosure concept,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!