In case you need a refresher, my violation was for putting a larger amount of money into people's annuities than what Oregon, and ONLY leftist Oregon, thought to be proper. No one lost a dime of their money and many are still making 4-15% (fixed VS indexed programs) returns on thier annuities. Not even one cent went to management fees or other costs. Hard % numbers were not introduced to the Oregon DOI until after I wrote the annuities in question, and the complaint was not filed by a client but the daughter of a deceased client at the urging of a small town stock broker who did not like having any competition. I harmed no one, and would not. And I still find the Oregon rule of X% only into an annuity to be capricious and over reaching of government into people's decisions, Coward.
"On 7/1/10, the director issued a notice of proposed action proposing to revoke the
Oregon nonresident individual insurance producer license issued to the party. The
director proposed to take that action because the director had reason to believe that
the party violated (1) Oregon Administrative Rules (OAR) 836-080-0090 in three
instances by recommending that a person who resided in Oregon purchase an
annuity that was unsuitable for the person, (2) ORS 746.100 in two instances by
making a false or fraudulent statement or representation on or relative to an
application for insurance, and (3) ORS 731.296 in three instances by failing to
promptly or truthfully respond to an inquiry from the director."
http://www.cbs.state.or.us/ins/admin_actions/actions_2011/producer_2011/10-02-005.pdf
