Answer :
Final answer:
Variable life insurance is regulated by entities such as the Department of Insurance and/or Financial Services, SEC, and FINRA, but not by the U.S. Department of Treasury.
Explanation:
Variable life insurance is primarily regulated by entities such as the Department of Insurance and/or Financial Services, the Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA). However, it is not regulated by the U.S. Department of Treasury.
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