A September report of the North American Securities Administrators Association (NASAA) on broker-dealer compliance with the SEC’s Regulation Best Interest (Reg BI) finds...more
1/17/2024
/ Broker-Dealer ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
NASAA ,
Real Estate Investments ,
Regulation Best Interest ,
Regulation BI ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Variable Annuities
FINRA’s report on its broker-dealer examination findings for 2018 features a substantial discussion of “Unsuitable Variable Annuity Recommendations.” This is in sharp contrast with FINRA’s 2017 report, which didn’t mention...more
The SEC, on June 5, announced that it would be exploring “modernization of the design, delivery and content of fund disclosures” in order “to improve the investor experience and help investors make more informed investment...more
Once again, the SEC’s Office of Compliance Inspections and Examinations (OCIE) has made variable insurance products an exam priority....more
Regulators Demand Third-Party Risk Management -
While third-party risk management has been a required component of an effective enterprise risk management program for many years, the topic is receiving elevated attention...more
4/18/2017
/ Article III ,
Clean Shares ,
Elder Abuse ,
Exploitation ,
Fiduciary Exception ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Injury-in-Fact ,
Insurance Industry ,
Insurance Litigation ,
Life Insurance ,
Mutual Funds ,
NAIC ,
Reinsurance ,
Sales Commissions ,
Securities and Exchange Commission (SEC) ,
Securities Settlement Cycles ,
Spokeo v Robins ,
Standing ,
Third Party Funding ,
Third-Party Risk ,
Unfair Competition Law (UCL) ,
Variable Annuities ,
Vulnerable Victims
President Trump’s nominee for SEC Chairman, Jay Clayton, could speed authorization of the variable annuity (VA) summary prospectus and related layered disclosure and shortened underlying fund report to shareholders. Doing so...more
William Kotapish, an Assistant Director in the SEC’s Division of Investment Management, recently stated that the SEC staff is prepared to recommend that the Commission adopt rules and forms authorizing a variable annuity...more
In This Issue:
- IN THE SPOTLIGHT
..Standard CGL Policy Form Adds Data Breach Coverage Exclusion
- LIFE INSURANCE
..Class Claims Against Lincoln National Barred in Section 419 Action – Again
...more
9/30/2014
/ Accredited Investors ,
Affordable Care Act ,
Burwell v Hobby Lobby ,
Class Action ,
Commercial General Liability Policies ,
Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Cyber Insurance ,
Data Brokers ,
Debt Collection ,
DMCA ,
Enforcement Actions ,
ESOP ,
Fair Credit Reporting Act (FCRA) ,
Fiduciary Duty ,
Foreclosure ,
Fraud-on-the-Market ,
Hallmark ,
Investment Adviser ,
Judge Rakoff ,
Life Insurance ,
NAIC ,
Patent Litigation ,
Patent-Eligible Subject Matter ,
Patents ,
Pharmaceutical Industry ,
Proxy Advisors ,
Putative Class Actions ,
Religious Freedom Restoration Act (RFRA) ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Strategic Enforcement Plan ,
Taco Bell ,
TCPA ,
Text Messages ,
Variable Annuities ,
Whistleblowers
Once again, the SEC has delayed action on the variable annuity summary prospectus—this time, until March 2015. The SEC revealed the news, rather surreptitiously, in a submission to the Office of Management and Budget...more