A broker-dealer settled state charges for sales practice violations in connection with non-traded real estate investment trusts.
News & Insights
Several state attorneys general sued the SEC, alleging that Regulation "Best Interest" is contrary to the intent of Congress and undermines critical consumer protections concerning retail investors.
The New York State Supreme Court held that the New York Department of Financial Services had the authority to enact a "best interest" standard for sellers of annuities and life insurance.
The New York Department of Financial Services adopted a final rule that establishes a "best interest standard" for individuals licensed to sell life insurance and annuity products.
The New York Department of Financial Services proposed updating the existing suitability regulation in order to establish a "best interest" standard for life insurance and annuity product licensed sellers.