Firms failed to ensure that investors got fund fee rebates, waivers
Proposals aim to boost investor protection around proprietary fund sales
Regulator reviewed 54 information filings from 14 insurers
New measures address the use of DSCs with existing contracts
Ahead of the proposed DSC ban for seg funds, a familiar refrain is in play
Also, fewer advisors left the advisory channel as the ban's effects faded
Proposal would eliminate regulatory arbitrage between seg funds and mutual funds
Regulator sets out draft priorities for fiscal 2024
Positive industry trends were the most prominent factors
Rep fined after switching a nonagenarian's account into a DSC fund