American Equity Inv. Life Ins. Co. v. SEC, No. 09-1021
In a petition for review of an SEC rule stating that fixed indexed annuities are not "annuity contracts" within the meaning of the Securities Act (Act), the petition is granted in part where the SEC failed to properly consider the effect of the rule upon efficiency, competition, and capital formation; but denied in part, where the SEC's interpretation of "annuity contract" in the Act was reasonable.
Read American Equity Inv. Life Ins. Co. v. SEC, No. 09-1021
Appellate Information
Argued May 8, 2009
Decided July 21, 2009
Judges
Opinion by Chief Judge Sentelle
Counsel
For Appellant:
Eugene Scalia, Gibson, Dunn & Crutcher LLP, Washington, DC
Barry Goldsmith, Gibson, Dunn & Crutcher LLP, Washington, DC
For Appellee:
Michael A. Conley, Deputy Solicitor, Securities & Exchange Commission, Washington, DC