For the purpose of proposing a settlement of rule violations alleged by the Financial Industry Regulatory Authority (FINRA), without admitting or denying the findings, William F. Weiss submitted a Letter of Acceptance, Waiver and Consent (AWC), which FINRA accepted. During the relevant period of 2005 to September 2008, Weiss was a managing director and branch office manager of The Weiss Group, a Metlife Securities office of supervisory jurisdiction. The AWC alleges two registered representatives improperly engaged in life settlement transactions without the firm’s knowledge or prior approval. The AWC further alleges Weiss knew of the transactions and took no steps to bring it to the firm’s attention. In accordance with the terms of the AWC, Weiss received a $10,000 fine and a six-month suspension in a principal capacity.
MetLife manager fined and suspended in FINRA life settlement case (Forbes)
Comments
Special Features
2013 Outlook As we move into a transition year, check out LifeHealthPro's conjectures for the life, annuities, health and disability markets.
100 Best Sales & Marketing Ideas Whether you want ideas for referrals, generating leads or just listening to your clients better, we have the sales and marketing tips you need.
The Complete ELNY Saga For more than two decades, the Executive Life Insurance Company of New York (ELNY) has been bled for billions of dollars while languishing in a state-imposed purgatory.
Life Insurance A-Z This alphabetical-themed infographic will help your clients feel more comfortable discussing life insurance protection concepts.
2012 Advisor of the Year Through a very thorough nomination process we look to find a top producer who is a true cornerstone of a community.
Senior Survey 2011 In this special section, find out how seniors build their nest egg, make an estate plan, finance their health care and where they live.
