Activist investor Paulson raises stake in Britains Premier Foods
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May 3 (Reuters) - The Financial Industry Regulatory Authority (FINRA) has sanctioned MetLife Securities Inc. $25 million in connection with variable annuity sales, the regulator said on Tuesday. The sanction, agreed to in a settlement, includes a $20 million fine and $5 million to be repaid to customers, FINRA said. The fine is FINRAs largest related to variable annuities, the regulator said. A representative for MetLife, which neither admitted nor denied the charges, could not be immediately reached for comment. MetLife made negligent representations and omissions to tens of thousands of customers, misleading them into thinking variable annuity replacements were more beneficial than they really were, FINRA said. (Reporting by Suzanne Barlyn; Editing by Chizu Nomiyama) View comments
# Medium's Unequal Expert Landscape: What You Need to Know
Exploring the challenges experts face on Medium and strategies for success in a competitive environment.