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Saturday May 25th 2013

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Supervision Lacking at Broker-Dealers: NASAA

legal settlementState regulators are seeing fewer problems with variable annuity sales but continue to see violations in some areas of supervision at broker-dealers. The top five types of violations: failure to follow written supervisory policies, suitability, correspondence/e-mail, maintenance of customer account information and internal audits, according to the results of the review, released Sunday at the annual meeting of the North American Securities Administrators Association Inc. in Coronado, Calif. according to a report at www.investmentnews.com.