NASD is considering tightening the noose on sales contests, since current rules may not adequately protect investors, according to Dow Jones Newswire.

"We're looking at the scope of our contest rules," said Elisse Walter, executive vice president for regulatory policy at NASD. She added that regulators are concerned about unsuitable sales, especially since the guaranteed income from variable annuities can be a very attractive lure for seniors.

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