Month: May 2015
The New York State Department of Financial Services – Life Insurance Resource Center
The New York State Department of Financial Services maintains a Life Insurance Resource Center on its website designed to inform New York State residents of the various life insurance-related products being sold in New York State. These products include immediate annuity contracts such as: Straight life annuities; Life contingent with period certain annuities; Life contingent […]
Read PostReverse Convertibles – Risky Investments Plagued with Losses
A number of brokerage firms have sold reverse exchangeable securities, also known as reverse convertibles, to retail investors. These structured products, promising high yields, are often difficult for the average investor to understand and are loaded with risks. In Regulatory Notice 10-09, the Financial Industry Regulatory Authority (FINRA) noted the complexity of these products, which […]
Read PostAre You Interested in Being An SEC Whistleblower?
The Office of the Whistleblower of the Securities and Exchange Commission (hereafter “SEC”) established a whistleblower program on July 21, 2010 as a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Obama on July 21, 2010. The SEC Office of the Whistleblower hosts Frequently Asked Questions (www.SEC.gov/whistleblower). The whistleblower […]
Read PostSenator Elizabeth Warren Investigate Insurance Company Sales Incentives For Annuity Products
Massachusetts Senator Elizabeth Warren sent a letter on Tuesday, April 26, 2015, to a number of large insurance companies, including MetLife, Inc., American International Group, Inc., Pacific Life Insurance Company, Allianz SE, U.S. Life division, TIAA-CREF New York Life Insurance, Prudential PIC, Nationwide Mutual Insurance Company, Jackson National Life, Riversource Life Insurance Co., Security Benefit […]
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- Morgan Stanley Smith Barney Agrees to $5,000,000 Settlement Fund to Benefit Harmed Investors
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