The Financial Industry Regulatory Authority says it is still deciding how to handle supervision requirements for the variable annuity sales process.
FINRA, Washington, mentions proposed broker-dealer compliance and supervisory responsibilities for deferred VA contracts in a review of FINRA’s 2008 compliance examination program.
Many exam program priorities will be mainly of interest to stock brokers,
But FINRA notes that it is continuing to review public comments on the new Rule 2821 guidelines, which govern deferred VA marketing.
Most parts of the rule are set to take effect May 5.