BD Hit With Reg BI Fine Over Annuity Exchanges
May 30, 2025 by Melanie Waddell
The Financial Industry Regulatory Authority has fined AAG Capital $100,000 and ordered the firm to pay nearly $39,000 in restitution for exchanging retail customers’ insurance policies, fixed indexed annuities and variable annuities for more costly registered index-linked annuities, or RILAs. The exchanges violated Regulation Best Interest.
From February 2021 through the present, AAG Capital failed to establish and maintain written policies and procedures and a supervisory system reasonably designed to comply with Reg BI or recommendations to retail customers regarding RILAs, the order states
Originally Posted at Think Advsior on May 29, 2025 by Melanie Waddell.
Categories: Industry Articles
