Deferred VA rule gets nod
The Securities and Exchange Commission last month approved a FINRA rule governing the sale of deferred variable annuities.
The Securities and Exchange Commission last month approved a FINRA rule governing the sale of deferred variable annuities. Originally proposed in 2004, the new rule imposes standards for training, suitability and supervisory procedures, and requires principal review and approval. Along with approving the rule, regulators issued an exemptive order allowing FINRA members to hold customer funds for seven days during principal review. For more details, visit the SEC’s site.
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