Thank you for your interest in reading the actual consent opinion an insurance agent signed after the IL Department of Securities found out that he sold a FIA where the source of funds to buy the annuity came from the sale of a security.
To download the actual Consent Order, click here and a PDF will pop up.
We believe that the State Securities Commissions will continue to pursue actions against non-securities licensed agents who are telling clients to move money from mutual funds, stocks, etc., into FIAs, EIULs, or other fixed instruments.
It is for this reason that from a compliance point of view we believe EVERY non-licensed agent should protect his/her ability to make a living by obtaining a Series 65.
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