31st Annual Southwestern Securities Enforcement Conference
Dr. McCann participated in a panel discussion on variable and equity-indexed annuities at the 31st Annual Southwestern Securities Enforcement conference presented by the Securities and Exchange Commission and the Texas Securities Commission. Attendees included representatives from state and federal law enforcement and regulatory agencies.
Study: Mandatory Arbitration of Securities Disputes
Dr. O'Neal and attorney/author Dan Solin today released a statistical analysis of the results of the mandatory arbitration process during the 1995 - 2004 period. They assessed almost 14,000 NASD and NYSE arbitration cases and found that Claimant win rates and recovery amounts have declined significantly over time. Moreover, claimants fare more poorly in large cases and in cases against larger brokerage firms. Dr. O'Neal and Mr. Solin estimate that the expected recovery before legal fees and expenses in a large case against a top brokerage firm is only 12% of the amount claimed.
Press Release: Securities Arbitration Study
Investors Recovered Just 22 Cents on Dollar in 2004, Down From 38 Cents in 1998;
Wins Dropped From 59 Percent in 1999 to 44 Percent in 2004, Lowest at Big Brokerages. To view the study, download it from the article: Mandatory Arbitration of Securities Disputes
Minimizing Longevity Risk
Dr. McCann presented in the New York Society of Securities Analysts (NYSSA) panel discussion, Minimizing Longevity Risk on the soundness of using general investments rather than special purpose insurance to fund possible future long term care expenses. He also presented some of his research on variable annuities, equity-indexed annuities and structured products to an audience of securities industry professionals.
Equity-indexed annuities sound good, but...
Scott Burns' column "Equity-indexed annuities sound good, but ..." in the Dallas Morning News, Boston Globe and other national newspapers reviews SLCG's research into equity-indexed annuities.
Arbitration Is a Tough Climb
The Wall Street Journal's "Arbitration Is a Tough Climb: Some Ask if System Is Stacked Against Investors" extensively cites research undertaken by Dr. O'Neal on NASD and New York Stock Exchange arbitration awards from 1995 to 2004.
Annuities complaint sends up red flag
Sarasota Herald Tribune's "Annuities complaint sends up red flag" quotes Dr. McCann on equity-indexed annuities' costs and complexity in a story covering EIA-related litigation in Florida.
Class Action Litigation Looms as New Hurdle for EIA Insurers
Investment News' "Class action litigation looms as new hurdle for EIA insurers" describes a recent ruling on class certification in an equity-indexed annuity class action against Midland National Life Insurance Co. in which Dr. McCann had testified.
Things to look for in '07
Humberto Cruz's column "Things to look for in '07" in the Chicago Tribune, Baltimore Sun and other national newspapers reviews SLCG's research into equity-indexed annuities.