In its 2023 Annual Report, the SEC Office of the Investor Advocate detailed its Fiscal Year 2023 efforts on investor outreach, responding to investor inquiries, and engaging in substantive research on (i) registered index-linked annuities and (ii) mandatory arbitration clauses in investment advisory agreements.
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20 News Results
A firm settled FINRA charges for supervisory failures over variable annuity contracts.
A firm settled FINRA charges for (i) effecting unsuitable switches of Class A mutual fund shares that resulted in customer losses and (ii) failing to establish a supervisory system to monitor inappropriate rates of variable annuity exchanges.
A firm settled FINRA charges for selling variable annuities without properly implementing the firm's written supervisory procedures on recommendations and sales.
SEC Division of Investment Management Director Dalia Blass expressed support for Regulation Best Interest and discussed the recently proposed disclosure framework for variable contracts.