The Financial Industry Regulatory Authority, also known as FINRA, has been enforcing all types of annuity transaction misdeeds nationwide according to recent enforcement reports from the agency, writes Elizabeth Festa in a recent article for LifeHealthPro.com. FINRA recently censured a firm and fined it $40,000 to settle allegations that the firm failed to maintain required […]

In an InvestmentNews.com article from March 6, 2012, Darla Mercado writes that the Lincoln National Life Insurance Co. will pay $5 million in death benefits  for a life insurance policy the insurer had contended was fraudulent. The jury in the U.S. District Court for the Southern District of Florida on Friday found in favor of plaintiff […]

Clyde Allen Benninghoff (CRD #18463, Registered Principal, Amelia Island, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Benninghoff consented to the described sanction and to the entry of findings that he facilitated securities […]

Back in April of 2007, the U.S. Securities and Exchange Commission sued a hedge fund, Lydia Capital LLC (Lydia), in the U.S. District Court for Massachusetts alleging fraud against investors in life insurance policies purchased by Lydia. SEC v. Lydia Capital LLC, No. 1:07-CV-10712, (D. Mass. Apr. 12, 2007). granting in part a motion by the SEC, […]