Executives from major insurance firms are pushing House leaders to amend tax-reform legislation to encourage the use of annuities in company retirement plans. In a Wednesday letter to House leaders, the corporate chiefs said that they were disappointed that the Family Savings Act did not include a provision that would make it easier for employers to add annuities to savings programs they offer workers. "While the Family Savings Act takes steps to address the need for Americans to increase...

A state insurance official on Thursday asserted that current investment-advice regulations for brokers are working and that modifying them under a proposal from the Securities and Exchange Commission could hamstring state regulators. Iowa Insurance Commissioner Doug Ommen said that the suitability rule that requires brokers to sell investment products that align with their clients' objectives and risk tolerances is protecting investors. The SEC regulates insurance products that are considered...

The Securities and Exchange Commission announced late Thursday afternoon that Dalia Blass, a securities attorney and former agency staff member, has been named director of the Division of Investment Management. She will take over the division that regulates investment advisers as well as investment companies, including mutual funds and exchange-traded funds, and variable insurance products. In the role, she will influence how the agency addresses investment advice standards and whether it...