SEC accused of ‘overreach’ with complaint targeting annuity sales

June 28, 2023 by John Hancock

A fraud case against a Massachusetts advisor has many in the annuity industry concerned about federal regulatory overreach.

On March 17, the Securities and Exchange Commission filed charges against Jeffrey Cutter and his advisory firm, Cutter Financial Group for “recommending that their advisory clients invest in insurance products that paid Cutter a substantial up-front commission without adequately disclosing Cutter’s and CFG’s financial incentive to sell the products.”

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Originally Posted at InsuranceNewsNet on June 27, 2023 by John Hancock.