Financial Constitution
These rules define the financial boundaries FCC should respect before recommending investments, withdrawals, or major purchases.
Liquidity, Safety & Diversification
Protection limits and diversification limits are separate. A product can be fully protected and still be rejected because the portfolio is too concentrated.
Administrator-controlled essential-expense reserve. FCC restricts this to 1-3 months.
Absolute ceiling. FCC can recommend a shorter term.
Maximum new position before stricter protection/concentration rules.
Combined existing plus proposed exposure to one bank, insurer or issuer.
Combined exposure to American National, Athene, Nationwide and all other insurance-company products.
Maximum portfolio allocation specifically to annuities.
Maximum portfolio allocation to CDs.
Maximum portfolio allocation to Treasury opportunities.
Normal diversification ceiling; protected liquidity may override with a warning.
Avoids too much of the portfolio becoming locked or maturing in the same term band.
FCC warns when exposure reaches this percentage of a concentration ceiling.
Annual portfolio withdrawal-rate guideline.