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