Annuity risks: Regulators are shifting focus to insurance-products sales practices
Article Abstract:
Marie Nappi and her husband Michael, being unaware of the intricacies of variable annuities were inspired by a local broker Osherow that led to losses of $172,000 on variable annuities he sold them. As a result of this mutual-fund scandal the National Association of Securities Dealers (NASD) proposed regulating annuity sales practices at the heightened levels reserved for such risky investments as option.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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Regulators next target: Variable annuities
Article Abstract:
The Securities and Exchange Commission and the NASD will look into brokerage firms to curb abusive sales of variable annuities. The regulators will look into cases involving annuity sold unsuitability to elderly investors and request customers to pay for annuities by taking mortgages on their homes.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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Playing fairer with fund fees
Article Abstract:
The author examines the Securities and Exchange Commission?s efforts to force the mutual fund industry to reveal presently hidden fees and costs associated with investing.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2003
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