Any type of arbitrage activity in an annuity is of concern to the New York Attorney General’s office, David Brown, the head of its investment protection bureau, warned yesterday. And the NASD and SEC are both poised to levy charges against annuities, The New York Times reports this morning.

The New York A.G. is "very interested" and "concerned" about manipulations of prices in annuities by professional investors, and "intends to bring a case" against a specific firm, Brown said at the Mutual Funds Reform and Public Trust Conference of the Securities Industry Association, according to a Reuters report. Brown declined to name the firm.

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