Warren chides insurers on resort perks in push for broker rule
November 2, 2015 by CHEYENNE HOPKINS AND SILLA BRUSH
(Bloomberg) — U.S. Senator Elizabeth Warren wants to restrict brokers from winning vacations, luxury cars and golf outings at the expense of retirees.
Warren, a Massachusetts Democrat and prominent Wall Street critic, released a report Tuesday criticizing the largest annuity providers for “kickbacks” or perks they provide for encouraging brokers to sell investments that may be more expensive. The report is based on responses she received from the 15 largest annuity providers such as Prudential Plc’s Jackson National Life after requesting information from them in April. Click HERE to view article