WASHINGTON - The Securities and Exchange Commission will continue to scrutinize the sale of bonus annuities and could issue clarification of or additional rules for the products, according to commission officials.

"You can expect us to comment on any presentation of a bonus product that does not fully and fairly disclose the downside, as well as the upside, of the product," said Paul Roye, director of the division of investment management. Roye spoke at the National Association for Variable Annuities regulatory affairs conference here last week.

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