The FIDx Five: Alarmed by SEC's 'Overreach'

Retirement, Annuity, & Fintech Insights 

Jeffrey Cutter's case has triggered an industry-wide concern over the SEC's potential encroachment on state-regulated insurance ground. Discover more about that and the four other stories in this edition of “The FIDx Five.”

1. SEC Under Fire
There’s a backlash over accusations the SEC overstepped its bounds in launching complaints regarding annuity sales procedures.

Source: InsuranceNewsNet, “SEC accused of ‘overreach’ with complaint targeting annuity sales,” 6/27/23

2. Data Breach Concerns
A growing number of insurance carriers are reporting data breaches linked to the use of MOVEit software.

Source: Life Annuity Specialist, “More Carriers Report Data Breaches from MOVEit Software,” 6/28/23

3. Tackling In-Plan Annuity Hesitation
At the 2023 Plan Sponsor National Conference, industry experts discussed strategies to overcome reluctance among participants to embrace in-plan annuities.

Source: Plan Sponsor, “PSNC 2023: Addressing In-Plan Annuity Reluctance,” 6/28/23

4. 8 Factors Discouraging Annuity Purchases
Here’s why individuals might decide against investing in annuities.

Source: Think Advisor, “8 Reasons Not to Buy an Annuity,” 6/29/23

5. Could AI Advice be Superior?
How long will it be until AI provides a more effective retirement plan than a human?

Source: Kiplinger, “Can AI Plan Your Retirement Better Than I Can?,” 6/30/23

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