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Some security regulators are making it sound as if there have been a legion of enforcement actions against producers that selling index annuities, how many NASD enforcement actions have their been against index annuities?

Arc: One. A comprehensive review of NASD Notice to Members for 2004, 2005 and 2006 found exactly ONE enforcement action mentioning index annuities (NASD Case #E1020040957-01). The case involved a representative who was fined $10,000 and suspended from the NASD for two years for selling an index annuity not approved by the NY insurance department to a New York resident and saying the sales occurred in Florida. 


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