Finra suitability proposal raises hackles of those in the fixed-annuities industry

The regulator seeks comments, but some critics are already saying it is overstepping its bounds

The Financial Industry Regulatory Authority Inc.'s proposal to widen its purview to include non-securities products has left some in the fixed-annuities industry gnashing their teeth.

Finra is seeking comments on Regulatory Notice 09-25, which indicates that the New York- and Washington-based regulatory organization may want to expand suitability guidelines to all recommendations of investment products, services and strategies, regardless of whether they include securities...

InvestmentNews: Finra suitability proposal raises hackles of those in the fixed-annuities industry