DATE: June 26, 2018
TO: All American Equity NMOs and Agents
FROM: Kirby Wood, Senior Vice President and Chief Distribution Officer
RE: Department of Labor Update

We are pleased to inform you the Fifth Circuit Court of Appeals took the final step last week to execute its March decision vacating the Department of Labor’s Fiduciary Rule.

Because the Rule is now officially vacated, American Equity will no longer require completion of the PTE 84-24 Disclosure and submission of the Agent Attestation. System updates are being made to reflect these changes. We will let you know of any other changes to our processes or procedures as they are determined.

As a best practice, any other DOL resources you use should be reviewed, and any references to the Rule or a fiduciary standard removed. Please confirm with your broker dealer or marketing organization any other changes they may require.

American Equity is proud to have been actively involved in the fight against the Fiduciary Rule, including the litigation vacating the Rule. We will continue to be active in discussions regarding the regulation of our products and will keep you informed of any changes. We thank you for your business and partnership throughout this challenging time and look forward to a mutually successful future.

DOL Vacated 06.26.18

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