Feds warn on variable annuities costly and risky
The SEC issued an alert on variable annuities noting high costs and risk of bonus credits. They caution these products can be misused and that aggressive advertising is a concern while assets in these annuities grow rapidly. Public guidance aims to improve understanding of their costs and protections.
MENTIONED IN THIS ARTICLE
Securities and Exchange Commission
Mission
Sec.gov
Varann
SEC
Paul Roye
Division of Investment Management
Roye
Arthur Levitt
Mark Mackey
National Association For Variable Annuities
Gary Schatsky
National Association of Personal Financial Advisors
Paul Wexler
New York
Michigan Eyes Ohio Jobs Movement Across State Line
Michigan officials launch a campaign to lure Ohio employers and their workers north, touting a friendlier liability climate in Michigan and promising legal reform. The push follows a parallel $2.7 million MEDC effort using TV ads in Columbus and Chicago to attract tech talent, backed by a $169 million agency.
MENTIONED IN THIS ARTICLE
Toledo
Michigan
Ohio
Michigan Chamber of Commerce
Michigan Chamber
Supreme Court
Chamber
Betty McNerney
Denise Wible
Ohio Chamber of Commerce
Columbus
Cincinnati
Chicago
Indianapolis
Michigan Economic Development Corp
Midwest
Rothwell
Break-up delay for Microsoft still opposed
Justice Department urges judge to reject major changes to the break up plan including a year delay for spin off filings. DOJ backs use of divestiture and issuance terms but fights provisions creating loopholes that could delay or undermine the final judgment. Microsoft to respond by Wednesday. judge’s ruling expected soon.
MENTIONED IN THIS ARTICLE
Washington
Justice Department
Microsoft Corp
U.S. District Court
Thomas Penfield Jackson
Microsoft
Redmond
Jackson
U.S
Market calm as profits trim gains in quiet session
New York stocks closed mixed after a light trading day as investors took profits from last week's rally while tech shares held some gains. The Dow rose 20.54 to 10815.30, Nasdaq 3,821.76, and S&P 500 fell 9.63 to 1,467.63 amid a broad but tempered rally.
MENTIONED IN THIS ARTICLE
New York
Standard & Poor
Edward Yardeni
Deutsche Bank Securities
Yardeni
Amazon.com
IBM
Primark
Thomson Corp
EU backs privacy pact with US amid critic protests
European Union approves a data privacy pact with the United States that assigns U.S. firms responsibility for safeguarding European consumer data. Critics fear loopholes weaken protections, while supporters call it a milestone for international e commerce and growth.
MENTIONED IN THIS ARTICLE
London
European Union
United States
U.S
US. Commerce Department
Clinton
Also Mentioned on This Page
Feds
Chicago Tribune
Motor City
Ford Motor Co
China International Exhibition Center
Beijing
Bestfoods
Campbell Soup
Unilever
Hellmann
Knorr
Campbell Soup Co
Campbell
Bill Info Washington
Federal Communications Commission
FCC
Thompson Corp
Information Company
Primark Corp
Thomson
Yankee Group
Edgar Direct
Toronto
The
Globe and Mail
Out of Money New York
APB News.com
Marshall Davidson
Apbnews.com
Qualcomm
Bridge News
Shanghai
Qualcomm Inc
China Unicom
Unicom
China Dally
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