Approaching the Heightened Standards in Offering Investment Tools to Service Members

Dec. 2007

 

With the Military Personnel Financial Services Protection Act of 2006 ("the Act"),
Congress has shown a heightened interest in protecting members of the military from
predatory and dishonest offerings of securities and insurance products. The Act was
promulgated in response to broker-dealers selling inappropriate life insurance policies to
young and vulnerable military personnel. Such personnel often have young families and
are naturally fearful of the financial consequences of what might happen to their families
should the military member die in combat.

 

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