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Article: Securities regulators take aim at VAS.(variable annuity securities)(Cover Story)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- February 9, 2004
- Author:
CopyrightCOPYRIGHT 2004 The National Underwriter Company. 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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The regulatory storm has moved over the variable annuity industry, but forecasters still are deciding whether it will topple financial services towers or simply muss the weatherman's hair.
For a few months, most of the headlines about investigations of market timing and other problems with money management operations focused on mutual funds. Some of the fund companies involved just happened to be subsidiaries of insurance companies.
Companies that have disclosed that they have reported possible fund market-timing problems to regulators or received inquiries about possible problems from regulators include Massachusetts Financial Services Company, a unit ...