AIG will pay a $12 million penalty to New York State for violations related to its subsidiary, American General Life Insurance Co. and its pension risk transfer business after an investigation by the New York State Department of Financial Services found that AGL solicited and did insurance business in New York without a license.
The state found that from Jan. 1, 2014, to June 17, 2019, AGL entered into four large-scale pension risk transfer deals and bid on several others, involving employees based in New York and New Jersey, the department said in a release.
As part of its agreement with the state, AIG will transfer the handling of transactions from AGL to its New York-based subsidiary, the United States Life Insurance Co. in the City of New York.
Catch-up contributions, required minimum distributions, and 529 plans are just some of the areas the Biden-ratified legislation touches.
Following a similar move by Robinhood, the online investing platform said it will also offer 24/5 trading initially with a menu of 100 US-listed stocks and ETFs.
The private equity giant will support the advisor tech marketing firm in boosting its AI capabilities and scaling its enterprise relationships.
The privately backed RIA's newest partner firm brings $850 million in assets while giving it a new foothold in the Salt Lake City region.
The latest preliminary data show $117 billion in second-quarter sales, but hints of a slowdown are emerging.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
