Securities regulation has become a prominent feature in the landscape of the life insurance industry. It is an integral element in the issuance and sale of life insurance company investment oriented products. The Investment Advisers Act of 1940 plays an important oversight role in the conduct of financial planners. The Williams Act amendments to the Securities and Exchange Act of 1934 are germane to acquisitions involving insurance companies. In addition, securities regulation has come to be applied directly to insurers themselves.