On July 1, 2024, the Securities and Exchange Commission adopted a new registration framework for registered index-linked annuity (RILA) contracts. RILA contracts allow investors to allocate purchase payments to one or more...more
On July 1, 2024, the Securities and Exchange Commission (SEC) announced new rules for registered index-linked annuities (RILAs) and registered market-value adjustment annuities (MVAs). The new rules will significantly impact...more
Regulators Hit Jackpot: Off-Channel Communications -
Several years before announcing the first “off-channel” communications enforcement action, the SEC and FINRA cautioned broker-dealers and investment advisers about...more
10/11/2023
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NYDFS ,
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Robocalling ,
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Wage and Hour
More than 25 years have elapsed since the SEC adopted Exchange Act Rule 17a-4(f) governing electronic recordkeeping by broker-dealers. In an effort to update the rule to reflect “technology neutral” concepts, the SEC adopted...more
For many years, insurance company issuers of non-variable products that are registered with the SEC on Forms S-1 or S-3 have been required to disclose compensation information about highly-compensated executive officers of...more
New York Pushes Mutual Fund Active Share Disclosure -
New York’s Attorney General issued a report on its recent investigation of fees charged by actively managed equity mutual funds and a metric known as “Active Share.”...more
7/23/2018
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Lucia v SEC ,
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SLUSA ,
Unclaimed Property
EXPECTFOCUS® is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A.
...more
10/20/2017
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Best Interest Contract Exemptions ,
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Blockchain ,
Capital Raising ,
Conflicts of Interest ,
Cybersecurity ,
Data Security ,
Distributed Ledger Technology (DLT) ,
Elder Abuse ,
ETFs ,
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Life Insurance ,
NAIC ,
OCIE ,
Securities and Exchange Commission (SEC) ,
STOLI
- Should Your Company Purchase Bitcoin to Pay a Cyber Ransom?
- NAIC Draws Line in CFPB Sandbox
- NAIC’s Big Data Task Force Sets Charges for 2017
- Broker-Dealers Can Hold Customers’ Initial Checks...more
1/9/2017
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Bitcoin ,
Broker-Dealer ,
Consumer Financial Protection Bureau (CFPB) ,
Cross-Selling ,
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Digital Currency ,
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Financial Industry Regulatory Authority (FINRA) ,
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Life Insurance ,
NAIC ,
OCC ,
Prudential Insurance ,
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Securities and Exchange Commission (SEC) ,
STOLI ,
Trump Administration ,
Usury ,
Virtual Currency
For two years FINRA has made sales and marketing of L-Share variable annuities (VAs) a regulatory and examination priority. Not surprisingly, FINRA in November announced settled actions against eight broker-dealers, alleging...more
- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial
- Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation
- On The Horizon: Global...more
10/31/2016
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Passporting ,
Regulatory Oversight ,
Retirement Plan ,
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Risk Assessment ,
Securities ,
Securities and Exchange Commission (SEC) ,
Solvency II ,
UK ,
UK Brexit ,
Unicorns
The SEC and FINRA recently extended relief originally granted to accommodate suitability reviews of deferred variable annuities, so that the relief is now also available for mutual funds, Section 529 plans, and other...more
10/5/2015
/ 529 Plans ,
Annuities ,
Broker-Dealer ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
No-Action Letters ,
Regulatory Standards ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Securities Regulation ,
Suitability Requirements ,
Variable Annuities
For the first time in several years, variable annuities are not listed as a priority in FINRA’s annual letter of regulatory and examination priorities. The omission from the January 2, 2014, letter may be partly due to the...more