NASD Fines AmEx Financial Advisors $350K for Improper Sales: The National Association of Securities Dealers has censured and fined American Express Financial Advisors Inc. $350,000 for its questionable sales of variable annuities and variable life insurance products.

The self-regulatory organization for the securities industry found that the firm failed to establish, maintain and enforce adequate supervisory policies and procedures governing the sale of variable annuities and variable life insurance products during a 30-month period ending in 2000. American Express neither admitted nor denied the NASD’s findings.

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