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Annuity Sales Model Moves Forward

Last Sunday, the Life Insurance and Annuities Committee met at the NAIC Fall Meeting in Austin, Texas. The agenda: strengthened suitability in annuity transactions model law.  According to a recent article from InsuranceNewsNet, the Annuity Suitability Working Group worked on the annuity sales model for …

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Variable Annuities: Fifth Third Securities Fined By FINRA For VA Sales

An article by Reuters’ Jonathan Stempel further emphasizes the importance of responsibility when selling variable annuities. The Financial Industry Regulatory Authority (FINRA) has fined Fifth Third Securities about $2 million (including $250,000 in restitution) for unsuitable sales of variable annuity products to the elderly, whom …

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Annuities for Retirement: Stricter Regulation in Florida

A press release from Florida’s Chief Financial Officer Alex Sink details new legislation the state has passed to protect residents from annuities fraud. Specifically, it bans the practice known as “twisting”, where an unscrupulous agent combines several annuities into one with a different holiday. The …

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