Taking A Variable Product To The SEC?(Securities and Exchange Commission)(Brief Article)

National Underwriter Life & Health-Financial Services Edition, April, 2001 by Boros, Joan E.

Agents, actuaries, marketing executives, company law departments, and outside counsel all face the same problem: How do we get a new or polished-up version of an existing variable product to market quickly?

They ask because, in today's innovative and rapidly changing financial services marketplace, speed to market is essential to meeting the competition and satisfying evolving customer needs.

Why is this even an issue? One reason is that all new publicly offered products and new features have to be registered with, and are reviewed by, the staff of the Securities and Exchange Commission. But, at best, SEC reviews of new products take about four months and reviews of new features about two months.

It takes even more time if the design requires...

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