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SEC Takes Action in Alleged Variable Annuities Scheme
The Wall Street Journal; subscription may be required Link to more items from this source
Mar. 13, 2014
"The SEC has accused Los Angeles-based broker Michael A. Horowitz and Brooklyn-based broker Moshe Marc Cohen of developing a strategy to exploit common features in variable annuities. Specifically, the agency said, the strategy focused on the so-called death benefit that is paid to the annuity's beneficiary if the annuitant dies and a bonus credit that the annuity issuer adds to the contract value based on a specified percentage of payments."

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