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Lutheran Brotherhood Securities Corp

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BUSINESS
February 16, 2001 | Times Wire Services
Four companies and an individual have agreed to pay a total of $112,000 to settle allegations that they improperly marketed and sold variable annuities, a popular way to save for retirement. Allegations by the National Assn. of Securities Dealers included misleading advertising and making sales that are unsuitable for customers' financial situations. The settlements are the first cases resulting from the NASD's two-year probe of sales of variable annuities.
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BUSINESS
August 19, 2001 | LIZ PULLIAM WESTON, TIMES STAFF WRITER
For nearly a decade, variable annuities have been one of the hottest retirement savings products around--both in terms of sales and controversy. The controversy shows no sign of abating. But sales of variable annuities are plummeting as falling stock markets, increased attention from regulators and a flood of lawsuits by disgruntled annuity owners take their toll.
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