Millions of customers because brokerage
Kansas City, Mo. — Waddell & Reed Financial Inc. agreed Friday to pay $ 32.5 million by the end of regulation and the room litigation triggered by thousands of variable annuity exchanges.
More than 5000 clients who fall back to $ 11 million.
In separate colonies, Overland Park, businesses established by ending the regulatory burden NASDand maybe tens of regulation of state authorities and agreed actions in three countries against its former parent company, Mark Corp. Torch
Each of these disputes has been the constant variable annuity exchanges, Waddell & Reed recommended brokerage customers in the years 2001 and 2002. The pension fund investment combined with an insurance contract, investors tax advantages.
The NASD, an industry self-control of the regulatory authority, responsible in spring 2004 that the exchange of a variable annuity for another were not customers in the best interest.
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