US insurer to pay $50m for misleading annuity clients
Regulator finds firm gave ‘false impression’ that quarterly statements listed all fees
ANNOUNCEMENT: UK Adviser is now PA Adviser. Read more.
Regulator finds firm gave ‘false impression’ that quarterly statements listed all fees
Bank failed to share data with advisers and clients about significant risk in a ‘complex investment strategy’
Products were ‘only suitable for customers with substantial financial resources’
Financial regulators have echoed those concerns in notices to the public
It has now charged 42 companies for failing to meet client reporting obligations
Clients were allegedly told to invest their money into gold and silver coins
He allegedly spent most of the money on ‘gifts for several women with whom he had romantic relationships’
Alongside five other entities used to receive investor funds
Money was raised from over 400 investors – including elderly retirees
‘People across financial services will keep a close eye’ on trade negotiations between the countries
US watchdog fines 27 firms nearly $1m for failing to meet requirements
‘Advisory firms must protect clients from inappropriate investments in complex products’