Milwaukee — The National Association for Fixed Annuities (NAFA) is asking its members to write legislators, urging them to help blunt passage of a controversial rule.

Proposed by the Securities and Exchange Commission (SEC), Rule 151A would reclassify fixed annuities as securities, and subject them to regulation by the SEC, if enacted. When first proposed in June, Rule 151A elicited controversy, and a public comment period, which was due to close in September, was extended.

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