NOT FOR REPRINT
FINRA Suspends Rep for Unsuitable Annuity Switches
News May 09, 2025 at 10:41 AM
Share & Print
What You Need To Know
- The rep recommended unsuitable L-share VA exchanges to nine customers and unsuitable VA purchases to two customers, FINRA says.
- According to the regulator, he also incorrectly stated in documenting the exchanges that the replacement variable annuity was lower in fees.
- The rep was suspended for 12 months, fined $10,000 and ordered to pay $25,436 in restitution.
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Immediate Answers to Critical Tax Questions At Your Fingertips
Keep up with the latest tax rules and regulations with weekly, exclusive updates by our Tax Facts experts.
Get More InformationRecently Added Q&As
Recently Updated Q&As
What is the temporary “senior deduction” deduction for taxpayers age 65 and over?
Get Answer
Recently Updated Q&As
What is the temporary deduction for auto loan interest?
Get Answer
Recently Updated Q&As
What is the temporary deduction for overtime income?
Get Answer
Recently Updated Q&As
What is the temporary deduction for tip income?
Get Answer
Recently Updated Q&As
What is a high deductible health plan for purposes of an HSA?
Get Answer
Recently Updated Q&As
Are remote workers eligible for leave under the Family and Medical Leave Act (FMLA)?
Get Answer
Recently Updated Q&As
What is the CARES Act employee retention tax credit that was available during 2020 and 2021?
Get Answer
Recently Updated Q&As
Who must file a return?
Get Answer