Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
Fixed interest rate tax deferred annuities are under the jurisdiction of the department of insurance in the state of residence (generally) of the policy owner as is indexed annuities as well. These types of tax deferred annuities are not deemed to be securities, so there is no additional oversight.
Like all insurance products, Fixed Annuities are regulated by the State Insurance Department of the state the Annuity was sold in. This includes, Fixed Annuities, Indexed Annuities, & Immediate Annuities/Lifetime Annuities.
Variable Annuities are regulated by both the State Insurance Department, as well as FINRA. Depending on the advisor who sold the Variable Annuity, the SEC might have jurisdiction instead of FINRA.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Who regulates fixed annuities? Usually in every state an annuity is sold the regulation is provided at the state level through the office of the insurance commissioner. Depending on the laws in each given state, an annuity may or may not be sold in that state. You may find an annuity for purchase in one state but not another because the states differ in their laws about them.
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Variable Annuities are regulated by both the State Insurance Department, as well as FINRA. Depending on the advisor who sold the Variable Annuity, the SEC might have jurisdiction instead of FINRA.