Supervision and Administration. Authorized Selling Firm shall have full, joint and several responsibility for the training and supervision of all of its Producers who are engaged directly or indirectly in the offer or sale of the Products, and all such Producers shall be subject to the control of Authorized Selling Firm with respect to their securities and insurance regulated activities in connection with the Products. Authorized Selling Firm shall be responsible for all acts or omissions of Producers. Selling Agency's supervisory and administrative responsibilities include, but are not limited to: 4.4.1 ensuring that Producers comply with Company Rules and all federal and state laws and regulations applicable to the Products; 4.4.2 training Producers prior to allowing a Producer to sell a Product in accordance with Section 4.4.14; 4.4.3 providing advice and assistance to Producers with regard to marketing and advertising of Products, and ensuring that no advertising is used unless approved by Company in accordance with Section 4.9, "Approved Advertising." 4.4.4 supplying sales literature and application forms approved by Company to Producers; 4.4.5 ensuring that any sales literature or advertising used on or from the premises of a financial institution be: (a) revised to include the disclosure required by the financial institution regulatory agencies and the NASD; (b) submitted to and approved by Company and/or Distributor in accordance with Section 4.9, "Approved Advertising," prior to first use; and (c) delivered by the Producer to the prospective customer; 4.4.6 assisting Producers in responding to customer inquiries; 4.4.7 promptly delivering to Producers relevant Company communications and Company Rules concerning Products, such as changes in rates, regulatory notices or new Product announcements; 4.4.8 ensuring that Producers: (a)submit premium payments directly and immediately to Company in accordance with Section 4.5, "Collection and Submission of Premiums"; (b)document transactions, including the fact of delivery, and maintain any other documentation reasonably requested by Company; (c)have obtained and will continuously maintain the required state insurance licenses in the state where such Producers will solicit and sell Products; and (d)have been appointed by Company in accordance with the laws of the state in which the sale(s) occur and the customer resides; 4.4.9 on all Replacement sales, ensuring that Producers provide sufficient information to prospective annuity contract-holders as to the suitability of the Replacement sale. Such information includes but may not be limited to: (a) the amount of the surrender charge to be incurred on the investment to be liquidated; (b) all fees and possible charges, such as surrender charges, on the new investment; (c) any change in the investment risk to the prospective annuity contract-holder; (d) any change in the nature or the provider of any guarantees associated with the Product and/or the surrendered product; (e) any changes in the expenses associated with the Product \ and/or the surrendered product; All such information will be retained by Selling Agency for seven years counting from the date of the initial solicitation, whether or not the Product was ever sold, and will be made available to Company as is shown in Section 4.8, "Accurate Record; Audit," herein. 4.4.10 timely obtaining and maintaining all required state insurance licenses, and notifying Company if any Selling Agency or Producer fails to maintain the required state insurance license or becomes inactive; 4.4.11 promptly informing Company of any violation of law or Company Rules by Authorized Selling Firm or Producer, or of any allegation by an annuity contract-holder or regulatory agency of wrongdoing as regards the activities of Authorized Selling Firm, or a Producer with respect to the Products; and 4.4.12 any other duties necessary or appropriate to perform Authorized Selling Firm's obligations under this Agreement.
Appears in 1 contract
Samples: Selling Agreement (American Express Platinum Variable Annuity Sm)
Supervision and Administration. Authorized Selling Firm shall have full, joint and several responsibility for the training and supervision of all of its Producers who are engaged directly or indirectly in the offer or sale of the Products, and all such Producers shall be subject to the control of Authorized Selling Firm with respect to their securities and insurance regulated activities in connection with the Products. Authorized Selling Firm shall be responsible for all acts or omissions of Producers. Selling Agency's supervisory and administrative responsibilities include, but are not limited to:
4.4.1 ensuring that Producers comply with Company Rules and all federal and state laws and regulations applicable to the Products;
4.4.2 training Producers prior to allowing a Producer to sell a Product in accordance with Section 4.4.14;
4.4.3 providing advice and assistance to Producers with regard to marketing and advertising of Products, and ensuring that no advertising is used unless approved by Company in accordance with Section 4.9, "Approved Advertising."
4.4.4 supplying sales literature and application forms approved by Company to Producers;
4.4.5 ensuring that any sales literature or advertising used on or from the premises of a financial institution be: (a) revised to include the disclosure required by the financial institution regulatory agencies and the NASD; (b) submitted to and approved by Company and/or Distributor in accordance with Section 4.9, "Approved Advertising," prior to first use; and (c) delivered by the Producer to the prospective customer;
4.4.6 assisting Producers in responding to customer inquiries;
4.4.7 promptly delivering to Producers relevant Company communications and Company Rules concerning Products, such as changes in rates, regulatory notices or new Product announcements;
4.4.8 ensuring that Producers: (a)submit a) submit premium payments directly and immediately to Company in accordance with Section 4.5, "Collection and Submission of Premiums"; (b)document b) document transactions, including the fact of delivery, and maintain any other documentation reasonably requested by Company; (c)have c) have obtained and will continuously maintain the required state insurance licenses in the state where such Producers will solicit and sell Products; and (d)have d) have been appointed by Company in accordance with the laws of the state in which the sale(s) occur and the customer resides;
4.4.9 on all Replacement sales, ensuring that Producers provide sufficient information to prospective annuity contract-holders as to the suitability of the Replacement sale. Such information includes but may not be limited to:
: (a) the amount of the surrender charge to be incurred on the investment to be liquidated; (b) all fees and possible charges, such as surrender charges, on the new investment; (c) any change in the investment risk to the prospective annuity contract-holder; (d) any change in the nature or the provider of any guarantees associated with the Product and/or the surrendered product; (e) any changes in the expenses associated with the Product \ and/or the surrendered product; All such information will be retained by Selling Agency for seven years counting from the date of the initial solicitation, whether or not the Product was ever sold, and will be made available to Company as is shown in Section 4.8, "Accurate Record; Audit," herein.
4.4.10 timely obtaining and maintaining all required state insurance licenses, and notifying Company if any Selling Agency or Producer fails to maintain the required state insurance license or becomes inactive;
4.4.11 promptly informing Company of any violation of law or Company Rules by Authorized Selling Firm or Producer, or of any allegation by an annuity contract-holder or regulatory agency of wrongdoing as regards the activities of Authorized Selling Firm, or a Producer with respect to the Products; and
4.4.12 any other duties necessary or appropriate to perform Authorized Selling Firm's obligations under this Agreement.
Appears in 1 contract
Samples: Selling Agreement (American Express Platinum Variable Annuity Sm)
Supervision and Administration. Authorized Selling Firm shall have full, joint and several responsibility for the training and supervision of all of its Producers who are engaged directly or indirectly in the offer or sale of the Products, and all such Producers shall be subject to the control of Authorized Selling Firm with respect to their securities and insurance regulated activities in connection with the Products. Authorized Selling Firm shall be responsible for all acts or omissions of Producers. Selling Agency's supervisory and administrative responsibilities include, but are not limited to:
4.4.1 ensuring that Producers comply with Company Rules and all federal and state laws and regulations applicable to the Products;
4.4.2 training ensuring that Producers prior to allowing a Producer to sell a Product comply with all terms of the Agreement in accordance with Section 4.4.14soliciting, selling and providing service for Products;
4.4.3 providing advice and assistance to Producers with regard to marketing and advertising of Products, and ensuring that no advertising is used unless approved by Company in accordance with Section 4.9, "Approved Advertising."
4.4.4 supplying sales literature and application forms approved by Company to Producers;
4.4.5 ensuring that any sales literature or advertising used on or from the premises of a financial institution be: (a) revised to include the disclosure required by the financial institution regulatory agencies and the NASD; (b) submitted to and approved by Company and/or Distributor in accordance with Section 4.9, "Approved Advertising," prior to first use; and (c) delivered by the Producer to the prospective customer;
4.4.6 4.4.4 assisting Producers in responding to customer inquiries;
4.4.7 4.4.5 promptly delivering to Producers relevant Company communications and Company Rules concerning Products, such as changes in rates, regulatory notices or new Product announcements;
4.4.8 ensuring that Producers: (a)submit premium payments directly and immediately to Company in accordance with Section 4.5, "Collection and Submission of Premiums"; (b)document transactions, including the fact of delivery, and maintain any other documentation reasonably requested by Company; (c)have obtained and will continuously maintain the required state insurance licenses in the state where such Producers will solicit and sell Products; and (d)have been appointed by Company in accordance with the laws of the state in which the sale(s) occur and the customer resides;
4.4.9 4.4.6 on all Replacement sales, ensuring that Producers provide Product applicants sufficient information and disclosures to prospective annuity contract-holders as to ensure the suitability of the Replacement sale. Such information includes that which is required by the rules of the NASD and any state insurance authority but may is not be limited to:
(a) the amount of the surrender charge to be incurred on the investment to be liquidated; (b) all fees fees, expenses and possible charges, such as surrender charges, on both the new investment; and the surrendered investments;
(cb) any change in the investment risk to the prospective annuity contract-holder; Product applicant;
(dc) any change in the nature or the provider of any guarantees associated with the Product and/or the surrendered product; (e) any changes in the expenses associated with the Product \ and/or the surrendered product; All such information will be retained by Selling Agency for seven years counting from the date of the initial solicitation, whether or not the Product was ever soldcompletion and signature of any application, and will be made available to Company as is shown in Section 4.8, "Accurate Record; Audit," herein.
4.4.10 timely obtaining and maintaining all required state insurance licenses, and 4.4.7 notifying Company if any Selling Agency or Producer fails to maintain the required state insurance license or becomes inactive;
4.4.11 4.4.8 promptly informing Company of any violation of law or Company Rules by Authorized Selling Firm or Producer, or of any allegation by an annuity contract-Contract holder or regulatory agency of wrongdoing as regards the activities of Authorized Selling Firm, or a Producer with respect to the Products; and
4.4.12 4.4.9 any other duties necessary or appropriate to perform Authorized Selling Firm's obligations under this Agreement.
Appears in 1 contract
Samples: Selling Agreement (American Enterprise Variable Life Account)
Supervision and Administration. Authorized Selling Firm shall have full, joint and several responsibility for the training and supervision of all of its Producers who are engaged directly or indirectly in the offer or sale of the Products, and all such Producers shall be subject to the control of Authorized Selling Firm with respect to their securities and insurance regulated activities in connection with the Products. Authorized Selling Firm shall be responsible for all acts or omissions of Producers. Selling Agency's supervisory and administrative responsibilities include, but are not limited to:
4.4.1 ensuring that Producers comply with Company Rules and all federal and state laws and regulations applicable to the Products;
4.4.2 training ensuring that Producers prior to allowing a Producer to sell a Product comply with all terms of the Agreement in accordance with Section 4.4.14soliciting, selling and providing service for Products;
4.4.3 providing advice and assistance to Producers with regard to marketing and advertising of Products, and ensuring that no advertising is used unless approved by Company in accordance with Section 4.9, "Approved Advertising."
4.4.4 supplying sales literature and application forms approved by Company to Producers;
4.4.5 ensuring that any sales literature or advertising used on or from the premises of a financial institution be: (a) revised to include the disclosure required by the financial institution regulatory agencies and the NASD; (b) submitted to and approved by Company and/or Distributor in accordance with Section 4.9, "Approved Advertising," prior to first use; and (c) delivered by the Producer to the prospective customer;
4.4.6 4.4.4 assisting Producers in responding to customer inquiries;
4.4.7 4.4.5 promptly delivering to Producers relevant Company communications and Company Rules concerning Products, such as changes in rates, regulatory notices or new Product announcements;
4.4.8 ensuring that Producers: (a)submit premium payments directly and immediately to Company in accordance with Section 4.5, "Collection and Submission of Premiums"; (b)document transactions, including the fact of delivery, and maintain any other documentation reasonably requested by Company; (c)have obtained and will continuously maintain the required state insurance licenses in the state where such Producers will solicit and sell Products; and (d)have been appointed by Company in accordance with the laws of the state in which the sale(s) occur and the customer resides;
4.4.9 4.4.6 on all Replacement sales, ensuring that Producers provide Product applicants sufficient information and disclosures to prospective annuity contract-holders as to ensure the suitability of the Replacement sale. Such information includes that which is required by the rules of the NASD and any state insurance authority but may is not be limited to:
(a) the amount of the surrender charge to be incurred on the investment to be liquidated; (b) all fees fees, expenses and possible charges, such as surrender charges, on both the new investmentand the surrendered investments; (cb) any change in the investment risk to the prospective annuity contract-holderProduct applicant; (dc) any change in the nature or the provider of any guarantees associated with the Product and/or the surrendered product; (e) any changes in the expenses associated with the Product \ and/or the surrendered product; All such information will be retained by Selling Agency for seven years counting from the date of the initial solicitation, whether or not the Product was ever soldcompletion and signature of any application, and will be made available to Company as is shown in Section 4.8, "Accurate Record; Audit," herein.
4.4.10 timely obtaining and maintaining all required state insurance licenses, and 4.4.7 notifying Company if any Selling Agency or Producer fails to maintain the required state insurance license or becomes inactive;
4.4.11 4.4.8 promptly informing Company of any violation of law or Company Rules by Authorized Selling Firm or Producer, or of any allegation by an annuity contract-Contract holder or regulatory agency of wrongdoing as regards the activities of Authorized Selling Firm, or a Producer with respect to the Products; and
4.4.12 4.4.9 any other duties necessary or appropriate to perform Authorized Selling Firm's obligations under this Agreement.
Appears in 1 contract
Samples: Selling Agreement (American Enterprise Variable Annuity Account)
Supervision and Administration. Authorized Selling Firm shall have full, joint and several responsibility for the training and supervision of all of its Producers who are engaged directly or indirectly in the offer or sale of the Products, and all such Producers shall be subject to the control of Authorized Selling Firm with respect to their securities and insurance regulated activities in connection with the Products. Authorized Selling Firm shall be responsible for all acts or omissions of Producers. Selling AgencyAgent's supervisory and administrative responsibilities include, but are not limited to:
4.4.1 ensuring that Producers comply with Company Rules and all federal and state laws and regulations applicable to the Products;
4.4.2 training Producers prior to allowing a Producer to sell a Product in accordance with Section 4.4.14;
4.4.3 providing advice and assistance to Producers with regard to marketing and advertising of Products, and ensuring that no advertising is used unless approved by Company in accordance with Section 4.9, "Approved Advertising."
4.4.4 supplying sales literature and application forms approved by Company to Producers;
4.4.5 ensuring that any sales literature or advertising used on or from the premises of a financial institution be: :
(a) revised to include the disclosure required by the financial institution regulatory agencies and the NASD; ;
(b) delivered by the Producer to the prospective customer; and
(c) submitted to and approved by Company and/or Distributor in accordance with Section 4.9, 4.9 "Approved Advertising," prior to first use; and (c) delivered by the Producer to the prospective customer;
4.4.6 assisting Producers in responding to customer inquiries;
4.4.7 promptly delivering to Producers relevant Company communications and Company Rules concerning Products, such as changes in rates, regulatory notices or new Product announcements;
4.4.8 ensuring that Producers: :
(a)submit a) submit premium payments directly and immediately to Company in accordance with Section 4.5, "Collection and Submission of Premiums"; ;
(b)document b) deliver Products to purchasers on a timely basis;
(c) document transactions, including the fact of delivery, and maintain any other documentation reasonably requested by Company; ;
(c)have d) have obtained and will continuously maintain the required state insurance licenses in the state where such Producers will solicit and sell Products; and and
(d)have e) have been appointed by Company in accordance with the laws of the state in which the sale(s) occur and the customer resides;
4.4.9 on all Replacement sales, ensuring that Producers provide sufficient information to prospective annuity contract-holders as to the suitability of the Replacement sale. Such information includes but may not be limited to:
(a) the amount of the surrender charge to be incurred on the investment to be liquidated; ;
(b) all fees and possible charges, such as surrender charges, on the new investment; ;
(c) any change in the investment risk to the prospective annuity contract-holder; ;
(d) any change in the nature or the provider of any guarantees associated with the Product and/or the surrendered product; ;
(e) any changes in the expenses associated with the Product \ and/or the surrendered product; All such information information, even on life-insurance-to-annuity transactions which will necessarily be declined, will be retained by Selling Agency Agent for seven years counting from the date of the initial solicitation, whether or not the Product was ever sold, and will be made available to Company as is shown in Section 4.8, "Accurate Record; Audit," herein.
4.4.10 timely obtaining and maintaining all required state insurance licenses, and notifying Company if any Selling Agency Agent or Producer fails to maintain the required state insurance license or becomes inactive;
4.4.11 promptly informing Company of any violation of law or Company Rules by Authorized Selling Firm or Producer, or of any allegation by an annuity contract-holder or regulatory agency of wrongdoing as regards the activities of Authorized Selling Firm, or a Producer with respect to the Products; and
4.4.12 any other duties necessary or appropriate to perform Authorized Selling Firm's obligations under this Agreement.
Appears in 1 contract
Samples: Selling Agreement (American Express Platinum Variable Annuity Sm)
