Short Takes: Unit Issues Guidelines For Selling Annuities

The National Association of Securities Dealers has published guidelines to help members develop appropriate variable annuity sales practices.

The guidance, published last week, identifies "best practices" in five categories: customer information, product information, liquidity and earnings accrual, investment and tax-qualified accounts, and variable annuity replacements.

Lawrence Kosciulek, an assistant director of the NASD's regulatory unit, said the notice would be a "useful tool."

"In concept firms should be doing the same things, but how they do them is their call," he said.

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