Variable annuities are regulated by several entities in the United States. The primary regulator is the Securities and Exchange Commission (SEC), which oversees the sale and marketing of variable annuities as securities. The Financial Industry Regulatory Authority (FINRA) also plays a role in regulating variable annuities, particularly in terms of the conduct of brokers and financial advisors who sell these products. Additionally, state insurance departments have jurisdiction over the insurance aspects of variable annuities, such as the financial solvency of the insurance companies that issue them. It's important to note that the specific regulations and requirements may vary from state to state. Overall, the goal of regulation is to protect consumers and ensure that variable annuities are sold in a fair and transparent manner.