ATTORNEY NEWSLETTER The Financial Industry Regulatory Authority (FINRA) has announced tougher sanctions for those who commit fraud or make unsuitable recommendations to clients, as well as increased suspensions under the self-regulator’s suitability rules. The National Adjudicatory Council for Financial Industry Regulatory Authority, its appellate tribunal for disciplinary cases, released the […]

ATTORNEY NEWSLETTER Insurance companies and their agents may use various schemes to market and sell deferred annuities. California annuity fraud attorneys want to make consumers, and particularly senior citizens, aware of these schemes. To read more about the risks of deferred annuities and how to prevent them, read our previous […]

ATTORNEY NEWSLETTER California financial fraud attorneys want to provide consumers with tips, tools, and resources to protect against the risks of purchasing deferred annuities. For more on deferred annuities and their risks, read here: /the-risks-of-deferred-annuities-and-what-youre-really-paying-for/. TIPS TO DETERMINE IF A DEFERRED ANNUITY IS AN APPROPRIATE INVESTMENT FOR YOU: -Research the […]

ATTORNEY NEWSLETTER Deferred annuities are a financial product that delays payments of income until the investor elects to receive them. This type of annuity has two main phases, the savings phase in which you invest money into the account, and the income phase in which the plan is converted into […]

ATTORNEY NEWSLETTER The insurance commissioners association has been working on new rules to limit captive reinsurance, and formed a new working group to study why captive reinsurance has now spilled over from life insurance into annuities. The group is led by Nick Gerhart, Iowa’s insurance commissioner. A recent New York […]

ATTORNEY NEWSLETTER Aviva Life and Annuity filed its third lawsuit against a group of Dewey & LeBouef LLP executives on Friday in Iowa Federal Court. Aviva Life and Annuity alleges that they were misled about the firm’s finances when they purchased $35 million in secured notes. Aviva Life and Annuity […]

ATTORNEY NEWSLETTER California annuity fraud attorneys note that people should be cautious in purchasing deferred annuity policies. Although these policies may seem like a beneficial investment, consumers are often misinformed about the actual risks of a deferred annuity policy. Some life insurance companies and/or their agents misinform their clients about […]

ATTORNEY NEWSLETTER A settlement involving over 200,000 senior citizens was recently approved in a California District Court lawsuit against Allianz Life Insurance Company of North America for the sale of deferred annuities to elderly victims. The class members in the class action lawsuit were recently awarded approximately $250 million in […]

ATTORNEY NEWSLETTER California insurance fraud attorneys are investigating potential claims against ING, now called Voya, related to the sale of annuities and life insurance policies. ING sold annuities and life insurance policies through its subsidiaries Security Life, ReliaStar, ING Life and Annuity, and ING USA. ING US officially became Voya […]

ATTORNEY NEWSLETTER California annuity fraud attorneys are investigating potential claims against Genworth Financial related to the sale of deferred annuities, as well as life insurance policies. Deferred annuities, or fixed annuities, are types of long-term investments that often prohibit or preclude withdrawals for at least 10-20 years. Deferred or fixed […]