Lansare's VA Compliance Platform enables surveillance analysts at Broker-Dealers, carriers, and other distributors of variable annuities to proactively monitor their entire book of business for inappropriate sales activity.
"We provide an easy to use platform that simplifies post-sale compliance by highlighting trends and patterns that won't appear in any single sales transaction, yet expose the organization to potential fines and regulatory compliance problems associated with unsuitable VA transactions", states Paul Nowak, President of Lansare. "Our platform monitors potential problem areas - such as unsuitable exchanges and cookie-cutter sales practices - and brings these issues to the attention of analysts."
The penalties related to inadequate post-sale compliance and surveillance practices can be significant. Earlier this month, FINRA, The Financial Industry Regulatory Authority, imposed a $1.75 million fine on Fifth Third Securities, Inc of Cincinnati OH for engaging in a series of what it termed "unsuitable" transactions involving variable annuities.
With built-in query, search, alerting and monitoring tools, the Lansare VA Compliance Platform provides analysts with the ability to conduct extensive research across the entire book of business, and to root out potentially unsuitable sales practices before they escalate into problems.
About Lansare Corporation
Lansare Corporation has been delivering technology solutions to the financial services industry since 1997. Lansare provides a web-based solution that helps clients analyze and better utilize their existing life and annuity data and related business information. Lansare's on-demand platform offers customized views into life and annuity data via research and analytical tools, reports, dashboards, and data mining capabilities.
To learn more, please visit our Variable Annuity Compliance Platform website.
Author Information
Andy Theimer
Lansare Corporation
