More On Legal & Compliancefrom The Advisor's Professional Library
- Pay-to-Play Rule Violating the pay-to-play rule can result in serious consequences, and RIAs should adopt robust policies and procedures to prevent and detect contributions made to influence the selection of the firm by a government entity.
- Do’s and Don’ts of Advisory Contracts In preparation for a compliance exam, securities regulators typically will ask to see copies of an RIAs advisory agreements. An RIA must be able to produce requested contracts and the contracts must comply with applicable SEC or state rules.
The Coalition for Indexed Products filed suit on January 16 in a Federal appeals court against the Securities and Exchange Commission over its December 17 decision to regulate equity indexed annuities as securities rather than insurance products. The coalition, a group of eight major insurance companies that issue fixed index annuities, including Allianz Life Insurance Co. of North America, charges in the suit that the SEC overstepped its authority in its ruling. That was the expressed position of SEC Commissioner Troy Parades when he cast the lone dissenting vote on December 17.
For further information on the suit and the ruling, please click here to view a news story from our sister company, National Underwriter