Deferred Variable Annuities Rule -- some parts delayed

Oh my gosh...for how long has the new rule on Deferred Variable Annuities been forthcoming?? The Rule (2821) was to be effective May 5, but certain parts of it will now be delayed until August 4. FINRA has asked the SEC for more time to consider three issues related to paragraph (c):

• the seven-business-day period within which principal review must be completed;
• principal review of all transactions as if they had all been recommended; and
• the prohibition on depositing customer funds in an insurer's suspense account prior to completion of an affiliated broker-dealer's principal's review.

The rest of the Rule will be effective May 8. Please see Notice 07-53 for details. http://www.finra.org/RulesRegulation/NoticestoMembers/2007NoticestoMembers/P037403