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 Posted: Sun May 17, 2009 10:52 am Post subject: SEC Rule 151A Update |
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Gary Spicuzza, *SAFE
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GarySpicuzza
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| Posted: Mon May 18, 2009 12:19 am Post subject: |
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Gary, thanks for posting. I'm not a fan of FIA's and I don't sell them, but, calling them a security is simply a crock of dung.
Let me see if I understand the SEC's point of view with this. "There is investment risk because somebody might get more than what is guaranteed."
This is about money and power and nothing else. It sure as heck isn't about protecting consumers. |
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InsuranceExpert
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| Posted: Mon May 18, 2009 5:07 am Post subject: |
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| Quote: | | "There is investment risk because somebody might get more than what is guaranteed." |
YES!
That what Chris Cocks (spelling) says, might be spelled Cox?
That like saying a CD has "investment risk" because it may rollover at a higher interest rate so it's now a security.
This issue is a perfect example of out of control government whereby if they can't get their agenda passed through the legislative process they attempt to circumvent lawmakers with administrative decree.
The best part about the Rule 151A story is the fact while Chris Cocks was obcessing over Safety of Principal Fixed Indexed Annuities, Bernard Madof was stealing $50,000,000,000 billion dollars of his investors life savings!
 Ya just got to love those Broker-Dealers 
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Gary Spicuzza, *SAFE
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GarySpicuzza
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| Posted: Sat Nov 07, 2009 2:07 pm Post subject: Goga Gogi |
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Guteb Tag Ich haise Goga
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praibraBlub
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| Posted: Sat Nov 07, 2009 2:56 pm Post subject: |
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But lets be a little honest here. Many insurance agents use equity indexed annuities to pretend like they are putting a client in the market, and replacing/xchanging business that may not be a suitable switch. I would not profess to be an expert on this topic but I've run into a few situations where agents sold equity indexed products and either didn't understand the product themselves or completely lied about what the product did.
I'm not here to champion the side of compliance or the SEC, or FINRA or any of that, but more needs to be done to ensure that agents above all know what they are doing with these things. |
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BNTRS
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| Posted: Sat Nov 07, 2009 4:34 pm Post subject: |
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BNTRS, Good post. Honestly, many people wish they had EIA's as opposed to current SEC regulated products, say over the past 10 years with two major crashes. Market trends are showing people like guarantees now over risks associated with their retirement plans. The SEC is just a vehicle being used by the wall streeters to curb the enthusiasm and restrict, through regulation, the sell of annuities. If they succeed what will they try and grab next in their "concern" over investors money???
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heidrek
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