I 
116TH CONGRESS 
2D SESSION 
H. R. 6994 
To direct the Securities and Exchange Commission to revise any rules nec-
essary to enable issuers of index-linked annuities to use the securities 
offering forms that are available to other issuers of securities. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 22, 2020 
Mr. PHILLIPS (for himself and Mr. STIVERS) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To direct the Securities and Exchange Commission to revise 
any rules necessary to enable issuers of index-linked an-
nuities to use the securities offering forms that are avail-
able to other issuers of securities. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Registration for Index- 
Linked Annuities Act’’. 
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SEC. 2. PARITY FOR REGISTERED INDEX LINKED ANNU-
ITIES REGARDING REGISTRATION RULES. 
(a) DEFINITION.—In this section, the term ‘‘reg-
istered index linked annuity’’ means an annuity that— 
(1) is deemed a security; 
(2) is required to be registered with the Securi-
ties and Exchange Commission; 
(3) that is issued by an insurance company that 
is subject to the supervision of the insurance com-
missioner of the applicable State; 
(4) is not issued by an investment company; 
and 
(5) the returns of which— 
(A) are based on the performance of a 
specified index rate or other financial tracking 
vehicle; 
(B) are subject to a modification of posi-
tive and negative returns by a financial calcula-
tion mechanism; and 
(C) may be subject to a market value ad-
justment if amounts are withdrawn prior to the 
end of the period during which such adjustment 
applies. 
(b) REVISION TO RULES.—Not later than the end of 
the 180-day period beginning on the date of enactment 
of this Act, the Securities and Exchange Commission shall 
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propose and, not later than 1 year after the date of enact-
ment of this Act, the Commission shall prepare and final-
ize any new or amended rules, as appropriate, to establish 
a new form on which an issuer of a registered index linked 
annuity may register such registered index linked annuity, 
subject to conditions the Commission determines appro-
priate. Any action that the Securities and Exchange Com-
mission takes pursuant to this subsection shall consider 
the availability of information to investors. 
(c) TREATMENT IF REVISIONS NOT COMPLETED IN 
A TIMELY MANNER.—If the Securities and Exchange 
Commission fails to complete the revisions required by 
subsection (b) by the time required by such subsection, 
any registered index linked annuity may be registered on 
the form described in section 239.17b of title 17, Code 
of Federal Regulations. Such registration shall be pre-
pared pursuant to applicable provisions of the form. 
(d) RULE OF CONSTRUCTION.—Nothing in this Act 
shall be construed to limit the authority of the Securities 
and Exchange Commission to determine the information 
to be requested in the form described in subsection (b). 
Æ 
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