Bill · H.R. 10234· House(119-HR-10234)
CLEAR Forms Act
- Introduced
- 9/2/2026
- Last activity
- 9/16/2026 — Ordered to be Reported (Amended) by the Yeas and Nays: 42 - 7.
- Sponsored by
- Zachary Nunn
- Cosponsors
- - 1 - 1
- Introduced
What this bill would do
This bill, known as the "CLEAR Forms Act," directs the Securities and Exchange Commission to establish new registration forms for specific insurance products. These products include contingent deferred annuities, registered index-linked life insurance, and other registered non-variable insurance contracts. The Commission is required to propose new rules within 12 months and finalize them within 30 months of the Act's enactment. The goal is to design forms that provide purchasers with the information necessary to make knowledgeable decisions. The bill also outlines specific design requirements and limitations for these new registration forms.
Yes· 3 of 11
Would people over 65 be better off under this?+6
Seniors are primary purchasers of annuities and will benefit from more understandable product disclosures.
Would retired people be better off under this?+6
Retirees are the primary target demographic for annuities and will benefit from increased transparency.
Does this give people more protection from unfair business practices?+6
Requires the SEC to create registration forms that ensure purchasers have information to make knowledgeable decisions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Improved Decision Making: The Commission is required to design forms that ensure purchasers receive information necessary to make knowledgeable decisions, considering the complexity of products like registered index-slinked life insurance and contingent deferred annuities (Section 2, subsection b, paragraph 2, subparagraph A).
-
Enhanced Clarity for Consumers: The Act requires the Commission to conduct investor testing for contingent deferred annuities and use those results to ensure key information is conveyed in terms a purchaser can understand (Section 2, subsection b, paragraph 2, subparagraphs B and C).
Potential Negative Impacts for People
- No specific negative impacts or burdens are explicitly mentioned in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Retirees+6Good For Seniors+6Good For Billionaires+3Good For High Income Households+3Good For High Net Worth Individuals+3Good For Middle Aged+3Good For Middle Class Households+3Good For Ultra High Net Worth Individuals+3
- Economy And Finance
- Improves Consumer Protection+6
- Governance And Ideology
- Improves Government Transparency+3Increases Federal Power+2
- 9/16/2026
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 42 - 7.
- 9/10/2026
- 1 Cosponsor added.
- 9/2/2026
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
Scott FitzgeraldRepublican · Wisconsin
Brittany PettersenDemocrat · Colorado