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.

Direct Life Insurance Carriers, Public affairs, Life insurance, Management investment, open-end, Ethics, Annuity Insurance, Ethical aspects, Mutual fund industry, Annuities, Insurance brokers

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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.

Securities Dealers, Investment Banking and Securities Dealing, Security brokers and dealers, United States. Securities and Exchange Commission, Variable annuities

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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.

Investment Offices, Mutual Fund Mgmt Companies, Portfolio Management, Investor Relations, Finance & Stockholder Relations, Stockholder Relations, Mutual funds, Investment management, Fees

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