For broker-dealers distributing and selling variable annuities, examinations will test for compliance with Reg BI and FINRA Rule 2330 because both standards apply to variable annuity sales. Firms distributing and selling variable annuities may benefit from following regulators’ cooking instructions to prepare for these examinations and enhance Reg BI procedures. Both the SEC and FINRA have been sending firms’ compliance practices back to the kitchen for further attention.
Please see Publication below for more information.
