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    • Equitable to Pay $50M for Misleading Teachers on Annuity Fees

    July 19, 2022 by Melanie Waddell

    The Securities and Exchange Commission announced fraud charges late Monday against Equitable Financial Life Insurance Co. for providing account statements to about 1.4 million variable annuity investors that included materially misleading statements and omissions concerning investor fees.

    Equitable agreed to pay $50 million to harmed investors, most of whom are public school teachers and staff members, to settle the charges.

    Click HERE to read the full story via ThinkAdvisor

    Originally Posted at ThinkAdvisor on July 18, 2022 by Melanie Waddell.

    Categories: Industry Articles
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