BD to Pay $1.1M Over Variable Annuity Exchanges
July 22, 2026 by Melanie Waddell
Wink’s Moore on the Market: I try to give people the benefit of the doubt when I read about cases like this.
Isn’t it possible that the new products offered a benefit/value, which was not provided through the existing variable annuities (VAs)?
Hard to argue that this was in clients’ best interests, though, given the issues that were reported on…-sjm
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The Financial Industry Regulatory Authority has ordered Centaurus Financial Inc. to pay just over $1.1 million for failing to supervise two representatives and violating Regulation Best Interest regarding recommendations to buy B-share variable annuities and advisory agreements to manage the variable annuities’ subaccounts.
Originally Posted at Think Advisor on Jul 17, 2026 by Melanie Waddell.
Categories: Industry Articles
