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FINRA Suspends Rep Over Variable Annuity Switches
News February 20, 2026 at 02:30 PM
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What You Need To Know
- The rep switched six senior customers from their existing deferred VA contracts into new ones.
- But he failed to conduct a reasonable comparative analysis of the customers' existing and prospective living benefit riders.
- The exchanges resulted in the loss of excess value in their existing deferred VAs.
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