XBRL US supports the SEC’s rule proposal on Registered Index-Linked Annuities
XBRL US has submitted a comment on the US Securities and Exchange Commission’s (SEC) proposed rule change for the Registration for Index-Linked Annuities.
The proposal calls for amendments to align disclosures of registered index-linked annuities (RILA) with those of variable annuities, and to require the reporting of such data in structured, machine-readable format.
XBRL US supports the proposal as the proposal would improve the ability to compare RILA annuities to variable annuities – which would be beneficial to investors.
The rule change proposes that insurance companies disclose structured notes’ valuation using Inline XBRL, aligning with additional disclosures. All RILA issuers would be mandated to submit data in iXBRL, supporting consistency.
To build alignment between RILA issuers and variable annuity issuers, XBRL US supports the proposal for both to tag the same disclosure items, aiding comparability.
Read the letter here.
