H.R. 10234 · In committee · Finance and Financial Sector

CLEAR Forms Act

What it does

Requires the Securities and Exchange Commission to propose new or amended registration forms for contingent deferred annuities, registered index-linked life insurance, and other registered non-variable insurance contracts within 12 months of enactment.
Directs the SEC to finalize registration forms for covered insurance contracts within 30 months of enactment, designed to ensure purchasers receive necessary information based on their sophistication and the complexity of the products.
Mandates the SEC to conduct investor testing for contingent deferred annuities and incorporate the results into the form design to ensure key information is conveyed in understandable terms.
Limits SEC disclosure requirements for insurance company filings to those already called for in existing forms 239.17b or 239.17c, and financial statements to those specified in those forms' instructions.

Sep 16, 2026: Ordered to be Reported (Amended) by the Yeas and Nays: 42 - 7.

Committee: House Financial Services