Over the last several decades—even before Americans first felt the brunt of the recent economic crisis—the financial landscape in the United States has been changing dramatically.
Additional Alert Last month, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 08-82 regarding discussions with retail investors about so-called cash alternatives. Specifically, the notice says that a statement to retail investors that an investment is a "cash equivalent" or is "as safe as cash," or that it carries no market or credit risk "would raise serious questions under FINRA's advertising rules." Click here for additional information
On December 17, 2008, the SEC voted, 4-1, to adopt a modified version of Rule 151A that subjects certain equity-indexed annuities to the registration and antifraud provisions of federal securities laws.
