District Court Rules Against Advisors in Ohio National Commission Cases
October 8, 2019 by Allison Bell
A federal judge in the U.S. District Court for the Southern District of Ohio has found that two securities representatives lack standing to sue Ohio National Life Insurance Company over a change in variable annuity commission arrangements.
U.S. District Judge Susan Dlott concluded, in two similar orders that were both filed Thursday, that Ohio National had selling agreements with the reps’ broker-dealers, not with the reps themselves.
The references to reps in the selling agreement ”do not demonstrate an intent to give enforceable rights to the representatives,” the judge writes.
The judge issued the orders in connection with Browning v. The Ohio National Life Insurance Company et al. and Cook v. Ohio National et al.