At AXA Equitable, we are proud to be a leader in introducing product innovations that respond to consumer needs. This includes routinely making changes and enhancements within our products, including the introduction of investment options with the managed volatility strategy to adapt to market conditions. At all times, AXA Equitable contract holders are free to make investment decisions that suit their individual needs, with access to a full menu of options in their products that vary by asset class and investment strategy.
Following regulatory approval of the availability of investment options that include the managed volatility strategy, the New York Department of Financial Services (NYDFS) last year requested information as part of a post-approval analysis. This request for information was previously disclosed in our public filings. The NYDFS has completed its review, and found that AXA Equitable should have communicated better to NYDFS when it made certain technical filings required under New York law.
As a company that is never satisfied with standing still, and is always seeking to improve, we strive to be at the forefront of best practices of all aspects of our rapidly evolving industry, including communications with our regulators.