ORLANDO, Fla. -- FINRA will be zeroing in on large volume sales of L-shares and variable annuities to clients.
But before firms stop recommending these products, there's nothing wrong with those transactions, per say, FINRA's David Klafter says. The problem comes when clients have not been informed about holding periods and fees, among other risks. And even if clients have been well-educated about their complexities, have those discussions been documented?
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