---
title: "The FIDx Five: Alarmed by SEC's 'Overreach'"
description: The latest edition of The FIDx Five, features industry insights on annuities, retirement, and fintech.
---

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# [The FIDx Five: Alarmed by SEC's 'Overreach'](https://fidx.io/resources/the-fidx-five-41-edition)

 Written by [FIDx](https://fidx.io/resources/author/fidx) | Jun 30, 2023 4:00:00 PM

#### 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](https://insurancenewsnet.com/innarticle/sec-accused-of-overreach-with-complaint-targeting-annuity-sales) 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](https://www.lifeannuityspecialist.com/c/4130504/533474/more_carriers_report_data_breaches_from_moveit_software) 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](https://www.plansponsor.com/psnc-addressing-in-plan-annuity-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](https://www.thinkadvisor.com/2023/06/29/8-reasons-not-to-buy-an-annuity/) 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](https://www.kiplinger.com/retirement/can-ai-plan-your-retirement-better-than-i-can) than a human?

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

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Fiduciary Exchange LLC (FIDx) is a technology firm offering solutions that connect the brokerage, insurance, and advisory ecosystems. FIDx does not provide any advice or make any recommendations with respect to any insurance or other financial products and does not solicit, offer or sell any insurance or other financial products. Financial professional use only. © 2023 Fiduciary Exchange LLC. All rights reserved.

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