On July 28, 2008, FINRA published a regulatory notice seeking comment on proposed
new rules governing communications concerning variable insurance products. A copy of
the proposal is available here.

The proposal would consolidate previous FINRA staff guidance on variable insurance
product communications, as well as revise requirements relating to matters such
as product identification, liquidity, guarantees, rider benefits, hypothetical illustrations,
investment analysis tools, and tax deferral illustrations.

The comment period expires September 30, 2008.