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SALE OF LIFE INSURANCE PROBED REGULATORS CONTACT SOME PEOPLE WHO HAVE VARIABLE LIFE POLICIES.(LOCAL/WISCONSIN)
- Article from:
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Wisconsin State Journal (Madison, WI)
- Article date:
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October 13, 2003
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Copyright informationCOPYRIGHT 2003 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Associated Press
MILWAUKEE -- Securities regulators have contacted some Northwestern Mutual Life Insurance Co. customers who hold variable life insurance policies as part of an investigation into how agents pitched the market-sensitive policies, a newspaper reported.
Northwestern Mutual confirmed to the Milwaukee Journal Sentinel that it has turned over policy holders names to the National Association of Securities Dealers. The NASD is the self-regulatory and enforcement body for firms that sell securities.
But the company says the inquiry is industrywide.
The NASD announced last year that it was conducting examinations of sales practices regarding ...
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