Rule 2821: The New. Face of VA Review

Young, Ethan
July 2008
Journal of Financial Planning;Jul/Aug2008 Supplement, p20
Academic Journal
The article discusses Rule 2821 issued by the National Association of Securities Dealers (NASD), and which addresses the purchase of deferred variable annuities. Although 2821 says that a client must understand in general terms what a deferred annuity is, such instruments should not be sold unless the purchaser fully understands what is being bought. Rule 2821 also specifies how long a planner may hold onto an application for a variable annuity before it must be submitted to the insurance company. Planners should maintain thorough documentation to avoid running afoul of 2821's strictures concerning suitability and practices.


Related Articles

  • HOW TO BECOME A FINANCIAL PLANNER. Delaney, Trevor // Black Enterprise;Apr2007, Vol. 37 Issue 9, p42 

    The author offers pieces of advice on becoming a financial adviser. He notes that one key credential an aspiring financial adviser will want is to become a certified financial planner. On a more advanced level, there are additional examinations administered by the National Association of...

  • ACTIONS.  // On Wall Street;May2005, Vol. 15 Issue 5, p20 

    Presents a time of actions taken by the National Association of Securities Dealers against sellers of variable annuities in the United States. Action taken by the NASD against Citigroup Global Markets on March 23, 2005; Fines imposed on American Express Financial Advisors on March 23, 2005.

  • NASD Notice Affects Design, Sales of Products.  // Best's Review;Jun2007, Vol. 108 Issue 2, p99 

    The article reports on the effect of National Association of Securities Dealers' (NASD) Notice to Members (NTM) to the design and sales of products in the U.S. NTM 05-50 is an investor-protection measure which mandates member securities dealers to supervise the sale of Equity Index Annuities...

  • Should you trust your money with a CEP, CFA, or ChFC? Wollenberg, Yvonne Chilik // Medical Economics;5/5/2006, Vol. 83 Issue 9, p17 

    The article provides information how to manage cautiously an investment. The author advises individual to research the website of the National Association of Securities Dealers, nasd.com, before hiring an investment adviser. One can access data from its site like several professional...

  • Reaction Fires Up To NASD Notice On ElAs. Koco, Linda // National Underwriter / Life & Health Financial Services;8/15/2005, Vol. 109 Issue 31, p6 

    Focuses on the reaction of index annuity executives regarding the purpose, usefulness, and effect of new guidance on equity index annuities (EIAs) issued by the National Association of Securities Dealers (NASD) in the U.S. Terms and provisions of the NASD guidance for EIAs; Views of securities...

  • "A genuine FPA success story".  // Journal of Financial Planning;Jan2005 Supplement, Vol. 18, p20 

    The article discusses a story that was told to the author regarding the decision by the National Association of Securities Dealers (NASD) dealing with negative consent letters. Neal Solomon, of Solomon Associates in Gloversville, New York, had just returned to the United States when he first...

  • Continuing the Dialogue.  // Financial Planning;Sep2006, Vol. 36 Issue 9, p10 

    The article presents information on the news items added by the periodical "Financial Planning" to its Web site. It has up-to-the-minute articles on executive appointments, legislative action and other developments in the financial services industry. An online poll was conducted on the changes...

  • PRACTICE GROWTH.  // CPA Wealth Provider;Jul2006, p8 

    The article reports on developments of the financial industries. Harris Interactive Inc. cites a survey that 51 percent of the Americans age 45 and older are worried on short-term financial issues than retirement plans. Guidelines that will help financial planners get reliable information were...

  • financial planning.  // Practical Accountant;Dec2004, Vol. 37 Issue 12, p22 

    The article presents information on the recent development in financial planning of the U.S. The U.S. Securities and Exchange Commission is allowing National Association of Securities Dealers members to make available to their customers an "investment analysis tool" to help evaluate potential...


Read the Article


Sign out of this library

Other Topics