Wednesday, March 17, 2010
SEC Censures Gilman Ciocia for Annuity Sales to Seniors
The Securities and Exchange Commission has censured Gilman Ciocia and its Prime Capital Services unit for misrepresenting the variable annuities sold to senior citizens in South Florida.
In an order issued Tuesday, the SEC found that from approximately November 1999 through February 2007, PCS, a broker-dealer that Gilman Ciocia acquired in 1999, offered and sold variable annuities that were unsuitable investments for elderly customers due to the customers' ages, liquidity and investment objectives...
WebCPA: SEC Censures Gilman Ciocia for Annuity Sales to Seniors
In an order issued Tuesday, the SEC found that from approximately November 1999 through February 2007, PCS, a broker-dealer that Gilman Ciocia acquired in 1999, offered and sold variable annuities that were unsuitable investments for elderly customers due to the customers' ages, liquidity and investment objectives...
WebCPA: SEC Censures Gilman Ciocia for Annuity Sales to Seniors
Permalink posted by markw @ 4:39 AM 
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