(XXXX XXXXXXX(R) LOGO)
GENERAL AGENT AND BROKER-DEALER
SELLING AGREEMENT
(XXXX XXXXXXX(R) LOGO) GENERAL AGENT AND BROKER-DEALER SELLING AGREEMENT
AGREEMENT, dated as of the effective date as provided below, by and among
the undersigned general agent ("General Agent"); the undersigned broker-dealer
(in the case of Securities Contracts) ("Broker-Dealer"); Xxxx Xxxxxxx
Distributors LLC (in the case of Securities Contracts); and 'The Company' which
is defined herein as any of the following Contract issuers: Xxxx Xxxxxxx Life
Insurance Company, Xxxx Xxxxxxx Variable Life Insurance Company, Xxxx Xxxxxxx
Life Insurance Company (U.S.A.), or Xxxx Xxxxxxx Life Insurance Company of New
York. The Company under this agreement shall be determined based upon which of
the above Contract issuers' products are being or have been sold pursuant to
this Agreement.
WHEREAS, The Company issues life insurance, long term care insurance, and
annuity contracts, some of which are exempted securities pursuant to Section 3
of the Securities Act of 1933 (the "1933 Act") and therefore not subject to
registration under the 1933 Act ("Insurance Contracts"), and some of which are
not exempted securities pursuant to Section 3 of the 1933 Act and therefore
subject to registration under the 1933 Act unless sold in exempt transactions
("Securities Contracts"); and
WHEREAS, The Company has appointed Xxxx Xxxxxxx Distributors LLC as the
principal underwriter for the Securities Contracts; and
WHEREAS, General Agent and Broker-Dealer desire to sell certain Securities
Contracts and Insurance Contracts (collectively, the "Contracts") in accordance
with the provisions set forth in the Contracts, Commissions and Fees Schedule
(the "Contracts Schedule") which is Exhibit A to this Agreement; and
WHEREAS, General Agent desires to have its sub-agents who are not also
registered representatives of Broker-Dealer appointed as agents of The Company
for the purpose of selling some or all of the Insurance Contracts ("Insurance
Agents"), and General Agent and Broker-Dealer desire to have General Agent's
sub-agents who are also registered representatives of Broker-Dealer appointed as
agents of The Company for the purpose of selling some or all of the Contracts
("Securities Agents")(Insurance Agents and Securities Agents are hereinafter
collectively referred to as "Agents"); and
WHEREAS, if General Agent and Broker-Dealer are the same person, the term
"General Agent" in this Agreement shall refer to Broker-Dealer, which shall
undertake all the duties, responsibilities and privileges of General Agent under
this Agreement;
NOW, THEREFORE, in consideration of the premises and the mutual covenants
herein contained, the parties hereto agree as follows:
1. APPOINTMENT AND AUTHORIZATION
a. The Company and Xxxx Xxxxxxx Distributors LLC appoint and authorize, on
a non-exclusive basis, General Agent and Broker-Dealer to solicit sales of the
Contracts in those jurisdictions in which The Company is admitted to do
business, the Contracts have been approved for sale by the appropriate
regulatory authorities and General Agent and Broker-Dealer are properly licensed
to conduct business. General Agent and Broker-Dealer accept such appointment and
authorization, and each agrees to use its best efforts to find purchasers of the
Contracts acceptable to The Company and to provide ongoing services to those
purchasers with respect to the Contracts.
b. Each of General Agent and Broker-Dealer is performing the acts covered
by this Agreement in the capacity of an independent contractor and not as an
employee or partner of or a joint venturer with The Company or Xxxx Xxxxxxx
Distributors LLC and is authorized to represent The Company and Xxxx Xxxxxxx
Distributors LLC only to the extent expressly authorized by this Agreement. No
further authority is granted or implied.
2. LICENSING AND APPOINTMENT OF AGENTS
a. General Agent is authorized to designate persons for appointment by The
Company as Agents to solicit applications for the Contracts, to deliver the
Contracts and to collect the premium (as used herein, the term "premium" shall
refer to any premium payment, deposit or contribution, as applicable, paid or
payable in connection with a Contract) thereon in conformance with applicable
state laws and The Company's rules and procedures. General Agent shall not
propose an Agent for appointment unless such Agent is duly licensed as an
insurance agent in the state(s) in which it is proposed that such Agent solicit
applications for the Contracts and, if the Agent is to sell Securities
Contracts, unless the Agent is a registered representative of Broker-Dealer.
General Agent shall be responsible for such Agents' continuing compliance with
applicable licensing requirements under state insurance laws, and Broker-Dealer
shall be responsible for such Agents' continuing compliance with applicable
registration requirements under federal and state securities laws.
b. General Agent shall assist The Company in the appointment of Agents
under applicable insurance laws and, in that connection, shall prepare and
transmit to The Company appropriate licensing and appointment forms, shall
fulfill all requirements set forth in the General Letter of Recommendation
attached as Exhibit B to this Agreement and shall comply with such other related
policies and procedures as The Company from time to time may establish or amend
in its sole discretion.
c. The Company shall pay the initial appointment fees and renewal fees
required under state insurance laws to appoint each previously licensed person
as an insurance producer of The Company for the sale of Contracts. General Agent
shall be responsible for all other state insurance appointment and licensing
fees with respect to the Agents, including license issue, transfer and
termination fees. Broker-Dealer shall be responsible for all fees, including
registration and examination fees, necessary to maintain Securities Agents'
continuing compliance with applicable registration requirements under federal
and state securities laws and the rule of self-regulatory organizations.
d. The Company, in its discretion, may refuse to appoint any Agent
designated by General Agent or, after it has appointed an Agent, may terminate
or refuse to renew such Agent's appointment or may withdraw the Agent's right to
solicit applications for some or all of the Contracts, in which case General
Agent shall cause such Agent to cease solicitations.
e. With the frequency reasonably requested by The Company, General Agent
shall provide The Company with a list of all Agents, indicating which of them
are Securities Agents, and the jurisdictions where such Agents are licensed to
solicit sales of the Contracts. With the frequency reasonably requested by
General Agent, The Company shall provide General Agent with a list which shows
the jurisdictions in which The Company is admitted to do business and the
Contracts that have been approved for sale in each of those jurisdictions.
3. SUPERVISION OF AGENTS
a. Except to the extent that Broker-Dealer is responsible therefor, General
Agent shall supervise all Agents and be responsible for their training and
compliance with applicable insurance laws and regulations, and if any act or
omission of an Agent or employee of General Agent is the proximate cause of any
loss, claim, damage, liability or expense (including reasonable attorneys' fees)
to The Company or Xxxx Xxxxxxx Distributors LLC, General Agent shall be liable
therefor. Broker-Dealer shall supervise Securities Agents and be responsible for
their training and compliance with applicable federal and state securities laws
and regulations, including but not limited to adequate Anti-Money Laundering
(AML) training with respect to 'covered products' as required by 31 C.F.R.
103.137, and upon request of the Company, satisfactory verification that Agents
have received such adequate training, and the rules of the National Association
of Securities Dealers, Inc. ("NASD"), and if any act or omission of a Securities
Agent or employee of Broker-Dealer is the proximate cause of any loss, claim,
damage, liability or expense (including reasonable attorneys' fees) to The
Company or Xxxx Xxxxxxx Distributors LLC, Broker-Dealer shall be liable
therefor. General Agent and Broker-Dealer shall insure that only Securities
Agents solicit applications for Securities Contracts. The Company and Xxxx
Xxxxxxx Distributors LLC shall not have any responsibility for the supervision,
training or compliance with any law or regulation of any Agent or any employee
of General Agent or Broker-Dealer, and nothing in this Agreement shall be deemed
to make such an Agent or employee an agent or employee of The Company (except
that Agents may be appointed insurance producers) or of Xxxx Xxxxxxx
Distributors LLC.
b. General Agent shall (i) supervise Agents' compliance with all applicable
suitability requirements under state insurance laws and regulations and (ii)
provide adequate training to insure that Agents have thorough knowledge of each
Insurance Contract and the ability to make appropriate product presentations and
suitability determinations in compliance with applicable law. Broker-Dealer
shall (i) supervise Securities Agents' compliance with all applicable
suitability requirements under federal and state securities laws and regulations
and NASD rules and (ii) provide adequate training to insure that Securities
Agents have thorough knowledge of each Securities Contract and the ability to
make appropriate product presentations and suitability determinations in
compliance with applicable law. Each of General Agent and Broker-Dealer shall
not, and shall cause the Agents not to, recommend the purchase of a Contract to
a prospective purchaser unless it has reasonable grounds to believe that such
purchase is suitable for the prospective purchaser and is in accordance with
applicable rules and regulations of any regulatory authority, including, in the
case of Securities Contracts, the Securities and Exchange Commission ("SEC") and
the NASD. General Agent, in submitting an application for an Insurance Contract,
and Broker-Dealer, in submitting an application for a Securities Contract, will
be deemed to have warranted to The Company, and to Xxxx Xxxxxxx Distributors LLC
in the case of a Securities Contract, that it has made a determination of
suitability based on information concerning the prospective purchaser's
insurance and investment objectives, risk tolerance, need for liquidity, and
financial and insurance situation and needs, or on such other factors that
General Agent or Broker-Dealer deems to be appropriate under the circumstances
and in compliance with applicable law.
c. General Agent shall establish and maintain a system of supervision of
recommendations regarding the purchase or exchange of Contracts made to any
consumer by its Agents. Such system of supervision shall be reasonably designed
to achieve compliance with all applicable insurance laws and regulations and
shall include, at a minimum, written procedures as well as periodic review by
General Agent of records that are reasonably designed to assist in detecting and
preventing violations of applicable laws and regulations. In furtherance
thereof, General Agent shall at all times designate a senior manager who shall
be responsible for establishing, communicating and monitoring General Agent's
system of supervision, and General Agent shall cause such senior manager to
respond promptly to any request by Xxxx Xxxxxxx to provide a certification that
such senior manager has a reasonable basis to represent that the General Agent
is performing the functions described above.
d. If an Agent performs any unauthorized transaction with respect to a
Contract, fails to submit to the supervision of or otherwise meet the rules and
standards of General Agent or Broker-Dealer, or fails to hold any required
license, appointment, registration or association with Broker-Dealer, General
Agent and Broker-Dealer immediately shall notify The Company in writing and act
to terminate the sales activities of such Agent relating to the Contracts.
e. Upon request by The Company or Xxxx Xxxxxxx Distributors LLC, General
Agent and Broker-Dealer shall furnish appropriate records or other documentation
to evidence the diligent supervision of Agents by General Agent and
Broker-Dealer.
4. OBLIGATIONS OF GENERAL AGENT AND BROKER-DEALER
a. General Agent and Broker-Dealer shall permit Agents to solicit
applications for Contracts only if they (i) are duly licensed insurance
producers and appointed by The Company and (ii) in the case of Securities
Contracts, are also registered representatives of Broker-Dealer.
b. All applications for Contracts shall be made on application forms
supplied by The Company; shall be reviewed by General Agent, in the case of
Insurance Contracts, and by Broker-Dealer, in the case of Securities Contracts,
for completeness and correctness, as well as compliance with applicable
suitability standards; in the case of Securities Contracts, shall be approved by
an appropriate principal of Broker-Dealer as to suitability; when completed,
shall, before the Contract is issued, be forwarded promptly to The Company, but
in no case later than the end of the next business day following receipt by
General Agent, Broker-Dealer or an Agent, to The Company or as otherwise
provided in The Company's administrative procedures;
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shall be sent to The Company at the address shown on the application or such
other address as The Company may specify from time to time; and shall be
accompanied by any premium payment received with such applications, without any
deduction or offset for any reason, including but not limited to compensation
payable to General Agent or Broker-Dealer, unless The Company or Xxxx Xxxxxxx
Distributors LLC and General Agent or Broker-Dealer have previously agreed to an
arrangement for deduction or offset. Checks or money orders for the payment of
premiums shall be drawn to the order of The Company or as The Company shall
otherwise authorize or direct from time to time. General Agent and Broker-Dealer
do not have authority to deposit or endorse checks payable to The Company
without the prior written approval of The Company. The Company has the right in
its sole discretion to reject any application for a Contract and return any
premium payment made in connection with the sale of the Contract.
c. The Company may require that any medical examination made in conjunction
with an application for a Contract be made by a medical examiner approved by The
Company and shall pay only those fees in connection with medical examinations
that have been expressly authorized by it.
d. Contracts issued on accepted applications shall be delivered to the
contract owners according to administrative procedures established by The
Company.
e. General Agent and Broker-Dealer shall not, directly or indirectly,
expend or contract for the expenditure of any funds of The Company or Xxxx
Xxxxxxx Distributors LLC. The Company and Xxxx Xxxxxxx Distributors LLC shall
not be obligated to pay any expense incurred by General Agent or Broker-Dealer
in the performance of this Agreement, unless otherwise specifically provided for
in this Agreement or agreed to in advance in writing by The Company or Xxxx
Xxxxxxx Distributors LLC.
f. General Agent and Broker-Dealer are not authorized: to incur
indebtedness or make contracts on behalf of The Company or Xxxx Xxxxxxx
Distributors LLC; to alter or amend any of the provisions of the Contracts or
the forms prescribed by The Company or Xxxx Xxxxxxx Distributors LLC; to
discharge, waive any forfeitures under or extend the time for making payments
under the Contracts; to pay any premium or other payment on behalf of a Contract
applicant; to enter into any court or regulatory proceeding in the name of or on
behalf of The Company or Xxxx Xxxxxxx Distributors LLC; or to bind The Company
or Xxxx Xxxxxxx Distributors LLC in any way not specifically authorized in
writing by the party to be bound.
g. General Agent and Broker-Dealer shall not induce any employee or agent
of The Company to terminate that relationship, persuade owners of insurance or
annuity contracts issued by The Company to discontinue their contracts or
otherwise do anything prejudicial to the interests of The Company or the owners
of contracts issued by it.
h. General Agent and Broker-Dealer agree to comply with, and to cause the
Agents to comply with, the administrative procedures of The Company relating to
the Contracts and the policies and procedures adopted by The Company relating to
privacy, agent conduct and similar matters and identified in the Policies and
Procedures Schedule which is Exhibit C to this Agreement, to the extent such
policies and procedures are applicable to the offer, sale and servicing of the
Contracts, as those administrative procedures and other policies and procedures
are now in effect or may be amended or established in the future by The Company
in its sole discretion and communicated to General Agent and Broker-Dealer, as
appropriate. General Agent and Broker-Dealer acknowledge receipt of those
policies of The Company set forth in the Policies and Procedures Schedule.
i. Each of General Agent and Broker-Dealer agrees to carry out its
activities and obligations under this Agreement, and to cause each Agent for
which it has primary supervisory responsibility to carry out the Agent's
activities and obligations in connection with the offer, sale and servicing of
the Contracts, in continuous compliance with applicable laws, rules and
regulations of applicable federal and state regulatory authorities (including
the rules of the NASD), including those governing securities and
insurance-related activities or transactions, and to notify The Company and Xxxx
Xxxxxxx Distributors LLC immediately in writing if it or any such Agent fails to
comply with any of those laws and regulations.
j. Broker-Dealer shall execute any electronic or telephone orders only in
accordance with the current prospectus applicable to the Securities Contracts
and agrees that, in consideration for electronic and telephone transfer
privileges, The Company will not be liable for any loss incurred as a result of
acting upon electronic or telephone instructions containing unauthorized,
incorrect or incomplete information received from Broker-Dealer or its
representatives.
5. COMPENSATION
a. The Company shall pay General Agent compensation for the sale of
Insurance Contracts and, on behalf of Xxxx Xxxxxxx Distributors LLC, shall pay
Broker-Dealer for the sale of Securities Contracts as set forth in the Contracts
Schedule. Unless otherwise provided in the Contracts Schedule, The Company will
make these payments within 15 days after the end of the calendar month in which
it accepts the premiums and purchase payments on which the payments are based.
Notwithstanding any other provision of this Agreement, Broker-Dealer shall
return to The Company all compensation paid to it with respect to a Securities
Contract if the Securities Contract is tendered for redemption within seven
business days after The Company's acceptance of the application for the
Securities Contract.
b. Except as otherwise set forth in this Agreement including the Contracts
Schedule, General Agent shall be exclusively responsible for setting the
compensation of and promptly paying Agents for sales of Insurance Contracts, and
Broker-Dealer shall be exclusively responsible for setting the compensation of
and promptly paying Agents for Securities Contracts, in each case in a manner
and percentage consistent with applicable law.
6. ASSOCIATED INSURANCE AGENCY
a. If they are not the same person, General Agent and Broker-Dealer
represent and warrant that they are in compliance with the terms and
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conditions of no-action letters issued by the staff of the SEC with respect to
non-registration as a broker-dealer of an insurance agency associated with a
registered broker-dealer. If Broker-Dealer has entered into an agreement with
one or more insurance agencies other than General Agent (each, an "Associated
Agency") for purposes of selling Securities Contracts in those states in which
neither Broker-Dealer nor General Agent can obtain an insurance license
necessary to sell the Contracts, Broker-Dealer represents and warrants that it
and each such Associated Agency are in compliance with the terms and conditions
of no-action letters issued by the staff of the SEC with respect to
non-registration as a broker-dealer of an insurance agency associated with a
registered broker-dealer. The Broker-Dealer will supervise agents of an
Associated Agency in the same manner as it is required to supervise Agents under
this Agreement, as applicable. General Agent and Broker-Dealer shall notify The
Company and Xxxx Xxxxxxx Distributors LLC immediately in writing if General
Agent, Broker-Dealer or any Associated Agency fails to comply with any such
terms and conditions and shall take such measures as may be necessary to comply
with any such terms and conditions.
b. In reliance on such representations and warranties, The Company, on
behalf of Xxxx Xxxxxxx Distributors LLC, agrees to pay any compensation
otherwise due to Broker-Dealer for sales of Securities Contracts to General
Agent or Associated Agencies as authorized in writing by Broker-Dealer.
c. Broker-Dealer shall have the same obligations under this Agreement with
respect to sales of Securities Contracts for which compensation is paid to
General Agent or an Associated Agency as it has for sales of Securities
Contracts for which it receives compensation directly from Xxxx Xxxxxxx
Distributors LLC or The Company. In addition, Broker-Dealer shall insure that
compensation paid to General Agent or an Associated Agency is distributed only
to duly licensed Securities Agents.
7. REPRESENTATIONS AND WARRANTIES
a. Each of The Company, Xxxx Xxxxxxx Distributors LLC, Broker-Dealer and
General Agent represents to the others that it and its officers signing below
have full power and authority to enter into this Agreement, that this Agreement
has been duly and validly executed by it and that this Agreement, assuming due
and valid execution by the other parties, constitutes a legal, valid and binding
agreement.
b. General Agent represents and warrants to The Company and Xxxx Xxxxxxx
Distributors LLC that General Agent is, and at all times when performing its
functions and fulfilling its obligations under this Agreement will be, a
properly licensed insurance agency in each jurisdiction in which such licensing
is required for the sale of the Contracts.
c. Broker-Dealer represents and warrants to The Company and Xxxx Xxxxxxx
Distributors LLC that Broker-Dealer is, and at all times when performing its
functions and fulfilling its obligations under this Agreement will be,
registered as a broker-dealer with the SEC under the Securities Exchange Act of
1934 (the "1934 Act") and under the securities laws of each state in which such
registration is required for the sale of the Securities Contracts and a member
of the NASD. Broker-Dealer will notify Xxxx Xxxxxxx Distributors LLC promptly in
writing if any such registration or membership is terminated or suspended.
d. John Xxxxxxx Distributors LLC represents and warrants to Broker-Dealer
that Xxxx Xxxxxxx Distributors LLC is, and at all times when performing its
functions and fulfilling its obligations under this Agreement will be,
registered as a broker-dealer with the SEC under the 1934 Act and under the
securities laws of each state in which such registration is required for
underwriting the Securities Contracts and a member of the NASD.
e. The Company represents and warrants to General Agent and Broker-Dealer
that the Securities Contracts, including any variable account(s) supporting the
Securities Contracts, shall comply in all material respects with applicable
registration and other requirements of the 1933 Act and the Investment Company
Act of 1940 (the "1940 Act"), and the rules and regulations thereunder,
including the terms of any order of the SEC with respect thereto.
f. The Company represents and warrants to General Agent and Broker-Dealer
that the prospectuses included in The Company's registration statements for the
Contracts, and in post-effective amendments thereto, and any supplements
thereto, as filed or to be filed with the SEC, as of their respective effective
dates, contain or will contain in all material respects all statements and
information which are required to be contained therein by the 1933 Act.
8. SALES LITERATURE, ADVERTISEMENTS AND OTHER PROMOTION MATERIAL
a. General Agent and Broker-Dealer shall not use, and shall cause the
Agents not to use, any sales literature, advertisements or other promotional
material ("Sales Material") in connection with the offer and sale of the
Contracts unless the Sales Material has been approved in writing prior to use by
The Company, in the case of Insurance Contracts, or Xxxx Xxxxxxx Distributors
LLC, in the case of Securities Contracts. For purposes of this Agreement, Sales
Material shall include but not be limited to:
i. material published, or designed for use in, a newspaper, magazine
or other periodical, radio, television, telephone or tape
recording, video-tape display, signs or billboards, motion
pictures, telephone directories (other than routine listings),
electronic or other public media, or direct mail;
ii. descriptive literature and sales aids of all kinds, including,
but not limited to, circulars, leaflets, booklets, marketing
guides, seminar material, audiovisual material, computer
print-outs, depictions, illustrations and form letters;
iii. material used for training and education which is designed to be
used or is used to induce the public to purchase or retain a
Contract; and
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iv. prepared sales talks and other presentations and material
prepared for use with prospective purchasers of the Contracts or
with the public generally.
b. The Company or Xxxx Xxxxxxx Distributors LLC will provide Broker-Dealer,
without charge, with as many copies of the prospectuses and statements of
additional information for the Securities Contracts and the underlying
investment funds as may be reasonably requested ("Registration Material"). Upon
receipt of updated Registration Material, Broker-Dealer will promptly discard or
destroy all copies of Registration Material previously provided to it, except as
needed to maintain proper records.
c. Upon notice to General Agent or Broker-Dealer, The Company or Xxxx
Xxxxxxx Distributors LLC may terminate at any time and for any reason the use of
any Sales Material previously approved by it or of any Registration Material,
and General Agent and Broker-Dealer shall promptly comply with any such request
and shall not use, or permit an Agent to use, such material thereafter.
d. General Agent and Broker-Dealer are not authorized, and may not
authorize anyone else, to give any information or to make any representation
concerning The Company, the Contracts, the separate accounts of The Company or
the underlying investment funds for the Contracts other than those contained in
the current Registration Material and Sales Material authorized for use by The
Company or Xxxx Xxxxxxx Distributors LLC. Broker-Dealer, General Agent and
Agents may not modify or represent that they are authorized to modify any such
material.
e. General Agent shall be responsible for all communications by Agents with
prospective purchasers of, and with the public generally in connection with,
Insurance Contracts. Broker-Dealer shall be responsible for all communications
by Securities Agents with prospective purchasers of, and with the public
generally in connection with, Securities Contracts.
9. GROUP ANNUITY CONTRACTS
For purposes of this Agreement, a group annuity contract which has not been
registered under the 1933 Act and which is to be issued in connection with a
stock bonus, pension, or profit-sharing plan which meets the requirements for
qualification under section 401 of the Internal Revenue Code (or in connection
with another kind of plan specified in Section 3(a)(2) of the 1933 Act) ("Exempt
Group Contract") shall be deemed to be an Insurance Contract, but a sale of an
Exempt Group Contract by a Securities Agent shall be subject to any applicable
NASD rules. Broker-Dealer shall supervise and maintain records with respect to
such transactions as may be required by any applicable NASD rules.
10. FIDELITY BOND AND OTHER LIABILITY COVERAGE
Each of General Agent and Broker-Dealer represents that it and its
directors, officers and employees and the Insurance Agents, in the case of
General Agent, and the Securities Agents, in the case of Broker-Dealer, are and
shall be covered by a blanket fidelity bond, issued by a reputable bonding
company, and other errors and omissions or liability insurance, acceptable to
The Company ("Liability Coverage"). Each of General Agent and Broker-Dealer
shall maintain its Liability Coverage at its expense. Liability Coverage shall
be in a form, type and amount and issued by a bonding company or other insurance
company satisfactory to The Company. Any fidelity bond maintained by
Broker-Dealer which meets the requirements of the NASD Conduct Rules applicable
to fidelity bonds shall be deemed to be satisfactory. The Company may require
evidence, satisfactory to it, that such coverage is in force, and General Agent
and Broker-Dealer shall give prompt written notice to The Company of any
cancellation or change of coverage. Each of General Agent and Broker-Dealer
assigns any proceeds received from the Liability Coverage to The Company to the
extent of its loss, and to Xxxx Xxxxxxx Distributors LLC to the extent of its
loss, due to activities covered by the Liability Coverage and agrees to pay
promptly any deficiency whether due to a deductible or otherwise.
11. COMPLAINTS, INVESTIGATIONS AND PROCEEDINGS
Each of General Agent and Broker-Dealer shall promptly notify The Company
and Xxxx Xxxxxxx Distributors LLC if it receives notice of any customer
complaint or of any threatened or pending regulatory investigation or
proceeding, civil action or arbitration (a "Proceeding") involving the
Contracts. The Company or Xxxx Xxxxxxx Distributors LLC will promptly notify
General Agent or Broker-Dealer if it receives notice of any customer complaint
or of any Proceeding involving General Agent or Broker-Dealer and a Contract.
Each party shall cooperate with the other parties in investigating and
responding to any such complaint or Proceeding, and in any settlement or trial
of any actions arising out of the conduct of business under this Agreement. No
response by General Agent or Broker-Dealer to an individual customer complaint
involving a Contract will be sent until it has been approved by The Company or
Xxxx Xxxxxxx Distributors LLC or dealt with otherwise in accordance with The
Company's administrative procedures.
12. INDEMNIFICATION
a. General Agent and Broker Dealer, jointly and severally, indemnify and
hold harmless The Company, Xxxx Xxxxxxx Distributors LLC, and their respective
affiliates, officers, directors, employees and agents against any and all loss,
claim, damage, liability or expense (including reasonable attorneys' fees),
joint or several, insofar as such loss, claim, damage, liability or expense
arises out of or is based upon any breach of this Agreement, any applicable law
or regulation, or any applicable rule of any self-regulatory organization, by
General Agent, Broker-Dealer or any of the Agents. This
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indemnification will be in addition to any liability which the General Agent and
Broker-Dealer may otherwise have.
b. The Company and Xxxx Xxxxxxx Distributors LLC, jointly and severally,
indemnify and hold harmless General Agent, Broker-Dealer and their respective
affiliates, officers, directors, employees and Agents against any and all loss,
claim, damage, liability or expense (including reasonable attorneys' fees),
joint or several, insofar as such loss, claim, damage, liability or expense
arises out of or is based upon any breach of this Agreement, any applicable law
or regulation, or any applicable rule of any self-regulatory organization, by
The Company or Xxxx Xxxxxxx Distributors LLC. This indemnification will be in
addition to any liability which The Company and Xxxx Xxxxxxx Distributors LLC
may otherwise have.
13. TERMINATION
a. Any party may terminate this Agreement in its discretion without cause
upon thirty (30) days written notice to the other parties.
b. The Company or Xxxx Xxxxxxx Distributors LLC may terminate this
Agreement effective with the mailing of a notice of termination to General Agent
or Broker-Dealer if the reasons for the termination include (i) conversion,
fraud, embezzlement or similar activity, (ii) failure to maintain Liability
Coverage as required by Section 10 or (iii) a rebate of, offer to rebate or
withholding of any payment due on a Contract by General Agent or Broker-Dealer.
c. This Agreement will terminate automatically without notice, effective as
of the immediately preceding date, if: General Agent or Broker-Dealer ceases to
have the requisite registrations and regulatory licenses (but only as to the
jurisdictions and Contracts affected by the absence of such registrations and
licenses); applicable laws or regulations otherwise prohibit General Agent or
Broker-Dealer from continuing to market the Contracts; or General Agent or
Broker-Dealer files for bankruptcy or financial or corporate reorganization
under federal or state insolvency law.
d. No provision of this Agreement shall continue in force after any
termination, other than Sections 11, 12, 14, 15, 18, 19, 20 and 21, and the
Exhibits and Contracts Schedule.
14. CONFIDENTIALITY
Each party to this Agreement shall maintain the confidentiality of any
customer list and any material designated as confidential and/or proprietary by
another party ("Confidential Information"), and shall not use or disclose such
information without the prior written consent of the party designating such
material as confidential and/or proprietary. Each party to this Agreement shall
take reasonable steps to protect such Confidential Information, applying at
least the same security measures and level of care as it employs to protect its
own Confidential Information. If any party to this Agreement is compelled by
applicable law to disclose any Confidential Information, it shall promptly
notify the party designating such material as confidential and/or proprietary in
writing. The General Agent and Broker-Dealer shall cause Agents to comply with
this provision.
15. AMENDMENTS
This Agreement may be amended in a writing signed by all the parties. If
The Company and Xxxx Xxxxxxx Distributors LLC send written notice of a proposed
amendment to this Agreement to General Agent and Broker-Dealer, General Agent
and Broker-Dealer shall be deemed to have agreed to the amendment if either
submits an application for a Contract on or after the fifth business day after
the date on which the notice was sent. The Company may also unilaterally suspend
distribution of any of the Contracts and amend the Exhibits and Schedules to
this Agreement in any and all respects, from time to time in its sole
discretion, with prior or concurrent written notice to General Agent and
Broker-Dealer. Any change in compensation shall apply to compensation due on
applications received by The Company after the effective date of the notice. The
Company may also amend the Contracts from time to time, in its sole discretion,
and nothing in this Agreement shall be deemed to affect its right to so amend
the Contracts.
16. BOOKS AND RECORDS
a. General Agent and Broker-Dealer shall maintain such books and records
concerning the activities of the Agents as may be required under applicable
insurance and securities laws and regulations and the rules of the NASD, and as
may be reasonably required by The Company or Xxxx Xxxxxxx Distributors LLC to
reflect adequately the Contracts business processed through General Agent or
Broker-Dealer. General Agent and Broker-Dealer shall maintain such books and
records at their respective principal places of business in good and legible
condition for a period of six calendar years following the year in which this
Agreement is terminated (the "Post-Termination Period") and shall make them
available during normal business hours to The Company or Xxxx Xxxxxxx
Distributors LLC from time to time while this Agreement is in effect and during
the Post-Termination Period upon 10 days' written request.
b. The parties shall promptly furnish each other any reports and
information that another party may reasonably request for the purpose of meeting
its reporting and recordkeeping requirements under the insurance laws of any
state or under any applicable federal or state securities laws or regulations or
NASD rules.
7
17. NOTICES
a. All notices under this Agreement shall be given in writing and sent to
the address of a party shown on the signature page or to such other address as
the party may designate in writing.
b. Each of General Agent and Broker-Dealer shall provide written notice to
The Company no less than thirty days prior to the closing date of its proposed
merger into or consolidation with another entity, a sale of substantially all
its assets or a sale, transfer or assignment of a controlling interest in it.
18. EFFECTIVE DATE
This Agreement supersedes in its entirety any prior effective selling
agreement between the General Agent or Broker-Dealer and The Company, or Xxxx
Xxxxxxx Distributors LLC. If this Agreement is executed by General Agent and
Broker-Dealer and returned to The Company, it shall be effective as of the date
of its execution by The Company.
19. REGULATORY REQUIREMENTS
a. All parties agree to observe and comply with all existing laws, rules
and regulations of all applicable local, state or federal regulatory authorities
(including the rules of the NASD), and with all existing rules and regulations
of any self-regulatory organization, and to observe and comply with those laws,
rules and regulations which may be enacted, adopted or promulgated during the
term of this Agreement, which relate to the business contemplated hereby in any
jurisdiction in which the business described herein is to be transacted.
b. John Xxxxxxx Distributors LLC and Broker-Dealer each agree to comply
with all applicable anti-money laundering laws, regulations, rules and
government guidance, including the reporting, record-keeping and compliance
requirements of the Bank Secrecy Act ("BSA"), as amended by the International
Money Laundering Abatement and Financial Anti-Terrorism Act of 2002, Title III
of the USA PATRIOT Act ("the Act"), its implementing regulations, and related
SEC, SRO, and NASD rules. Broker/Dealer agrees to comply with the economic
sanctions programs administered by the U.S. Treasury Department's Office of
Foreign Assets Control ("OFAC"). Further, Broker-Dealer and General Agent each
agree to comply with requirements of The Company relating to any of the
foregoing that have been communicated to them.
20. OTHER
a. This Agreement contains the entire understanding of the parties with
respect to the subject matter hereof, supersedes all prior agreements and
understandings among the parties regarding the subject matter, and may be
executed in two or more counterparts which together shall constitute a single
agreement.
b. This agreement may not be assigned by any party without the written
consent of the other parties (except that it may be assigned by The Company to a
successor in connection with a merger, consolidation or sale of all or
substantially all of the assets of The Company, and may be assigned by Xxxx
Xxxxxxx Distributors LLC to an affiliate or successor) and shall inure to the
benefit of and to be binding upon the parties and their respective successors
and assigns.
c. The provisions of this Agreement shall apply severally and not jointly
to each of the following companies that are parties to this Agreement: Xxxx
Xxxxxxx Life Insurance Company, Xxxx Xxxxxxx Variable Life Insurance Company,
Xxxx Xxxxxxx Life insurance Company (U.S.A.), and Xxxx Xxxxxxx Life Insurance
Company of New York. The Company's obligations, representations, and warranties
under this Agreement shall be enforceable only against the entity named in the
preceding sentence that is the Contract issuer.
d. Forbearance by a party to require performance of any provision hereof
shall not constitute or be deemed a waiver by that party of such provision or of
the right thereafter to enforce the same, and no waiver by a party of any breach
or default hereunder shall constitute or be deemed a waiver of any subsequent
breach or default, whether of the same or similar nature or of any other nature,
or a waiver of the provision or provisions with respect to which such breach or
default occurred.
e. This Agreement shall be governed and construed in all respects by the
laws of the Commonwealth of Massachusetts without reference to the principles of
conflict or choice of law thereof.
21. ARBITRATION
Any and all disputes under this Agreement shall be settled by arbitration
in Massachusetts under the then existing rules of the American Arbitration
Association and judgment may be entered upon the award in any court of competent
jurisdiction. The determination of the arbitrators shall be final and binding on
all parties. The costs of arbitration shall be borne equally by the parties to
the arbitration, provided however, that the arbitrators may assess
8
one party more heavily than the other for these costs upon a finding that such
party did not make a good faith effort to settle the dispute informally when it
first arose.
[Signatures on Next Page]
9
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date set forth below.
GENERAL AGENT BROKER-DEALER
-------------------------------------- ----------------------------------------
Name Name
-------------------------------------- ----------------------------------------
Xxxxxx Xxxxxxx Xxxxxx Xxxxxxx
-------------------------------------- ----------------------------------------
City, State & Zip City, State & Zip
By: By:
---------------------------------- -----------------------------------
Title: Title:
------------------------------- --------------------------------
Date: Date:
-------------------------------- -------------------------------
XXXX XXXXXXX LIFE INSURANCE XXXX XXXXXXX VARIABLE LIFE INSURANCE
COMPANY COMPANY
[Address] [Address]
By: By:
---------------------------------- -----------------------------------
Title: Title:
------------------------------- ---------------------------------
Date: Date:
-------------------------------- ----------------------------------
XXXX XXXXXXX LIFE INSURANCE XXXX XXXXXXX LIFE INSURANCE COMPANY OF
COMPANY (U.S.A.) NEW YORK
Attn: Agency Department [Address]
By: By:
---------------------------------- -----------------------------------
Title: Title:
------------------------------- ---------------------------------
Date: Date:
------------------------------- ----------------------------------
XXXX XXXXXXX DISTRIBUTORS LLC
Attn: Operations Department
By:
----------------------------------
Title:
-------------------------------
Date:
--------------------------------
10
EXHIBIT A
CONTRACTS, COMMISSIONS AND FEES SCHEDULE
GENERAL PROVISIONS
COMPENSATION. Unless otherwise provided in this Contracts Schedule,
commissions will be paid as a percentage of premiums or purchase payments
(collectively, "Payments") received in cash or other legal tender and accepted
by The Company on applications obtained by Agents. Such Payments will be payable
in respect of the sale of such Contracts, in such amounts, and upon such terms
as are set forth in the applicable commission schedules together with any
accompanying schedules relating to the Payments, (the "Commission Schedules"),
established by The Company and Xxxx Xxxxxxx Distributors LLC and covering each
Contract, as are in effect from time to time, to which such Payments relate. The
Company and Xxxx Xxxxxxx Distributors LLC expressly reserve the right to
transfer future compensation on a Contract to another General Agent or
Broker-Dealer if the owner of the Contract so requests. Upon termination of the
Agreement, General Agent and Broker-Dealer shall receive no further
compensation, except for compensation for all Payments which are in process at
the time of termination of the Agreement or are received subsequently on
Contracts in force at the time of termination of the Agreement, unless otherwise
provided in an applicable Commission Schedule. Notwithstanding the foregoing, no
Payments will be made with respect to an increase in the face amount of a
Contract when the Agreement is terminated prior to such increase, and when the
Agreement is terminated, no Payments with respect to any Securities Contracts
shall be made after the Broker-Dealer ceases to be properly licensed to sell
Securities Contracts. General Agent and Broker-Dealer shall continue to be
liable for any chargebacks pursuant to the provisions of this Contracts
Schedule, and for any other amounts advanced by or otherwise due The Company or
Xxxx Xxxxxxx Distributors LLC under the Agreement.
JOINT BUSINESS. Any Contract sold by General Agent or Broker-Dealer in
conjunction with any other person authorized to sell the Contracts shall be
considered as joint business and, unless otherwise agreed to by The Company, the
amount of the compensation due on the Payments accepted under that Contract
shall be apportioned equally among each participant in the sale. General Agent
or Broker-Dealer shall provide The Company with written notice of any such joint
business and of the existence of any agreement among participants for unequal
apportionment of compensation.
PROHIBITION AGAINST REBATES. General Agent and Broker-Dealer shall not, and
shall cause the Agents not to, rebate, offer to rebate or withhold any part of
any payments due on the Contracts. If General Agent, Broker-Dealer or any Agent
shall at any time induce or endeavor to induce any owner of any Contract to
discontinue payments or to relinquish any such Contract, except under
circumstances where there is reasonable grounds for believing the Contract is
not suitable for such person, The Company shall forthwith cease paying any and
all compensation that would otherwise be due General Agent or Broker-Dealer
under this Agreement.
RIGHT OF SET OFF. Each of General Agent and Broker-Dealer hereby authorizes
The Company to set off its liabilities to The Company and Xxxx Xxxxxxx
Distributors LLC against any and all amounts otherwise payable to General Agent
or Broker-Dealer, including amounts payable under the Agreement or under any
other agreement pursuant to which General Agent or Broker-Dealer receive
compensation directly or indirectly from The Company.
Each of General Agent and Broker-Dealer shall be liable for the portion of
any debit balance equal to advances on unearned compensation which appears in
their respective Advance Accounts. Such portion of the debit balance shall be
payable by General Agent or Broker-Dealer, as applicable, upon demand by The
Company. At the option of The Company, interest at the maximum rate permissible
by state law will accrue on such portion of the debit balance from the time a
debit balance occurs in such account.
PAYING AGENT FOR INSURANCE CONTRACTS. At the request of General Agent, The
Company, at its discretion, may agree to act as General Agent's paying agent and
make payments of compensation directly to such Insurance Agents and such other
appropriate parties who are not employees of General Agent but are appointed
with The Company and are entitled to compensation from General Agent in
connection with the sale of those Insurance Contracts that are not variable
annuity contracts or variable life insurance policies, as General Agent may
designate from time to time.
11
EXHIBIT B
GENERAL LETTER OF RECOMMENDATION
General Agent hereby certifies to The Company that all of the following
requirements will be fulfilled in conjunction with the submission by General
Agent of licensing/appointment papers for all applicants to become Agents
("Applicants"). General Agent will, upon request, forward proof of compliance
with same to The Company in a timely manner.
1. We have made a thorough and diligent inquiry and investigation relative
to each Applicant's identity, residence, business reputation and experience and
declare that each Applicant is personally known to us, has been examined by us,
is known to have a good business reputation, is reliable, is financially
responsible and is worthy of a license and appointment as an Agent. Each
individual is trustworthy, competent and qualified to act as an agent for The
Company and hold himself out in good faith to the general public. We vouch for
each Applicant.
2. We have on file a Form X-000, X-000 or U-4 which was completed by each
Applicant. With respect to each Applicant to become a Securities Agent, we have
fulfilled all the necessary investigative requirements for the registration of
each such Applicant as a registered representative through our NASD member firm,
and each such Applicant is presently registered as an NASD registered
representative. The above information in our files indicates no fact or
condition which would disqualify the Applicant from receiving a license, and all
the findings of all investigative information is favorable.
3. We certify that all educational requirements have been met for the
specific state in which each Applicant is requesting a license and that all such
persons have fulfilled the appropriate examination, education and training
requirements.
4. If the Applicant is required to submit his or her picture, signature and
securities registration in the state in which he or she is applying for a
license, we certify that those items forwarded to The Company are those of the
Applicant and the securities registration is a true copy of the original.
5. We hereby warrant that the Applicant is not applying for a license with
The Company in order to place insurance chiefly or solely on his or her life or
property or on the lives, property or liability of his or her relatives or
associates.
6. We certify that each Applicant will receive close and adequate
supervision, and that we will make inspection when needed of any or all risks
written by these Applicants, to the end that the insurance interest of the
public will be properly protected.
7. We will not permit any Applicant to transact insurance as an agent until
duly licensed therefor. No Applicants have been given a contract or furnished
supplies, nor have any Applicants been permitted to write, solicit business or
act as an agent in any capacity, and they will not be so permitted until the
certificate of authority or license applied for is received.
8. We certify that General Agent, Broker-Dealer and Applicant shall have
entered into a written agreement pursuant to which: (a) Applicant is appointed a
Sub-agent of General Agent and a registered representative of Broker-Dealer; (b)
Applicant agrees that his or her selling activities relating to the Securities
Contracts shall be under the supervision and control of Broker-Dealer and his or
her selling activities relating to the Insurance Contracts shall be under the
supervision and control of General Agent; and (c) that Applicant's right to
continue to sell such Contracts is subject to his or her continued compliance
with such agreement and any procedures, rules or regulations implemented by
Broker-Dealer or General Agent.
12
EXHIBIT C
POLICIES AND PROCEDURES SCHEDULE
In addition to its administrative procedures, The Company has adopted the
following Codes which contain policies and procedures applicable to the offer,
sale and servicing of the Contracts:
Privacy Code
Agent's Code of Conduct
13
Attachment A
BROKER DEALER
Nationwide Securities LLC (aka NSLLC)
Great American Advisors, Inc.
Essex National Securities, Inc.
Mutual Funds Associates
Sentinel Insurance Agency
Prospera Financial Services, Inc.
USA Advanced Planners Inc.
FSC Securities Corporation
Aegis Capital Corp.
ING Financial Advisers, LLC.
ASH Securities Wholesaling, Inc.
ING Financial Partners
The Leaders Group
Allstate Financial Services, LLC
All-Vest Securities, Inc.
American General Securities, Inc.
VALIC Financial Advisors, Inc.
American Portfolios Financial Services, Inc.
Ameritas Investment Corp.
A.P. Securities, Inc.
Securian Financial Services, Inc.
Madison Avenue Securities, Inc.
Xxxxxxxx Securities, Inc.
BROKER DEALER
Associated Securities Corp.
Aura Financial Services, Inc.
AXA Advisors, LLC
Xxxxxx X. Xxxxx
Advest, Inc.
Xxxxx X. Xxxxxxx & Co., Inc.
BancNorth Investment Group, Inc.
Banc of America Investment Services, Inc.
Xxxxxx, Xxxxxxxxx & Xxxxxxx, Inc.
Xxxxxxxx & Xxxxxxxx Incorporated
BB & T Investment Services, Inc.
BCG Securities, Inc.
Xxxxxxx, Xxxxxx & Company Financial Services, Inc.
Xxxxxx Xxxxxxxx Xxxxxxxx & Co., Inc.
Rampart Financial Services, Inc.
Brighton Securities Corp.
Bristol Financial Services, Inc.
Deutsche Bank Securities, Inc.
Xxxxxxx, Xxxxxxx & Xxxx, Inc.
BROKER DEALER
Xxxxxx Xxxx & Co., Inc.
C & S Securities Corp.
Xxxxxxx, Xxxxx & Co., Inc.
Xxxxxx & Associates, Inc.
Xxxxxxxx & Co., Inc.
Capital Analysts, Inc.
GWN Securities, Inc.
Xxxxxx Financial Services, Inc.
CBIZ Financial Solutions, Inc.
Waterford Investor Services, Inc.
Centauraus Financial, Inc.
CES Insurance Agency, Inc.
CFD Investments, Inc.
X. Xxxx, Inc.
Capital Financial Services, Inc.
Chase Investment Services Corp
Jefferson Pilot Securities Corp.
CPI Capital
CCO Investment Services Corp.
C.J.M. Planning Corporation
Xxxxx Xxxxx & Co., Inc.
BROKER DEALER
Commerce Capital Markets, Inc.
Commerce Capital Markets, Inc.
Community Bankers Securities, LLC.
Community Investment Services, Inc.
Compass Securities Ins.
Comprehensive Asset Management and Servicing, Inc
Tower Square Securities, Inc.
Cornerstone Institutional Investors, Inc.
Crown Capital Securities, L.P.
CUNA Brokerage Services, Inc.
Xxxxxx Securities, LLC
Xxxx Xxxxxxxx Incorporated
Xxxx Xxxxxx Xxxxxxxx, Inc.
BROKER DEALER
Delta Equity Services, Corp.
Di Giulio Financial Services, Inc.
Xxxxxx X. Xxxxx, & Co., L.P.
Advisory Group Equity Services, Ltd.
Essex National Securities, Inc.
Empire Financial Group, Inc.
AM & M Investment Brokers, Inc.,
New England Securities Corporation
Metropolitan Life Insurance Company
ePlanning Securities, Inc.
Equitas America, LLC
Equity Services Inc.
Essex National Securities, Inc.
Excel Securities & Associates, Inc.
Valmark Securities, Inc.
First Capital Equities, LTD
Xxxxxx, Xxxxx Xxxxx Insurance Agency, Inc.
BROKER DEALER
The F.I. Group, Inc.
Financial Advisors of America LLC
Financial Network Investment Corp.
Financial West Group
Fintegra, LLC
First Allied Securities, Inc.
1st Global Capital Corp.
First Heartland Capital, Inc.
First Williston Corporation
Founders Financial Securities, LLC
FSC Securities Corporation
Essex National Securities, Inc.
Mellon Securities, LLC.
G.A. Repple & Company
Xxxx Xxxxxxxx & Company, Inc.
GDC Securities, LLC
Geneos Wealth Management, Inc.
Xxxxxxx Security Advisors Corp.
GFA Securities, LLC
Gilford Securities
Xxxxxx Securities, Inc.
BROKER DEALER
Great Eastern Securities, Inc.
GunnAllen Financial, Inc.
Xxxxxxxx Xxxxxxxxx Investment Brokers, Inc.
X.X. Xxxxxxx & Co.
Hazard & Xxxxxx, Inc.
First Allied Securities, Inc.
H.D. Vest Investment Securities, Inc.
Xxxxxx & Company, LLC.
Xxxxxxx Xxxxxx & Co., Inc.
SMH Capital, Inc.
Highland Capital Securities, Inc.
Ameriprise Advisor Services, Inc
Xxxxxx, Xxxxxxxx & Xxxx
HRC Services, Inc.
HSBC Securities (USA), Inc.
Xxxxxx Heritage Capital Management, Inc.
IBN Financial Services, Inc.
Investors Capital Corp.
Brokerageselect
IDB Capital Corp.
Capital Brokerage
BROKER DEALER
Interlink Securities Corp.
Intervest International Equities Corp.
Invest Financial Corporation
The Investment Center, Inc.
Investors Security Company, Inc. (ISCI)
Xxxxxx Xxxxxxxxxx Xxxxx, Inc.
Jesup & Xxxxxx Securities Corp.
Financial Telesis, Inc.
J J B Xxxxxxxx X X Xxxxx, Inc.
Xxxx Xxxxx Investments, LTD.
X.X. Xxxxxx & Company, L.L.C.
J.W. Xxxx Financial, Inc.
BROKER DEALER
Xxxx, Xxxxxx Securities, Inc.
Key2Life Brokerage Inc.
McDonald Investments Inc.
Key Investment Services, LLC
KMS Financial Services, Inc.
Xxxxxx Securities, Inc.
Pointe Capital, LLC
Larimer Capital Corporations
LaSalle St. Securities, LLC
21st Century Financial Services, Inc.
Legacy Financial Services, Inc.
Legend Equities Corporation
Xxxxxxx & Company
Xxxxx Securities Inc.
Leumi Investment Services, Inc.
Lifemark Securities Corp.
ING Financial Partners Inc.
Lincoln Investment Planning, Inc.
Lincoln Financial Advisors Corporation
LPL Financial Corporation
L & M Financial Services
X. X. Xxxx and Company
Lombard Securities, Inc.
Long Island Financial Group, Inc.
Mid Atlantic Capital Corporation
BROKER DEALER
Mid-Atlantic Securities, Inc.
Xxxxxx Xxxxxxxxx Securities Corp.
Xxxxxx Trading, Inc.
Medallion Investment Services
Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx (MLPF&S)
Mesirow Financial, Inc.
X. Xxxxxxxx, Inc.
M Holdings Securities, Inc.
MML Investor Services, Inc.
Money Concepts Capital Corp.
Xxxxxx Xxxxxx & Company
First Montauk Securities Corp.
M & T Securities, Inc.
Multi-Financial Services Corp.
BROKER DEALER
Mutual Service Corporation
MWA Financial Services, Inc.
Nations Financial Group, Inc.
Xxxxxx Securities, Inc.
Newbridge Securities Corp
Benefit Funding Services
New Horizons Asset Management Group, LLC.
Next Financial Group, Inc.
NFB Investment Services Corp.
NFP Securities, Inc.
NIA Securities, LLC
Northwestern Mutual Investment Services, LLC.
Northeast Securities, Inc.
North Ridge Securities Corp.
Northern Lights Distributors, LLC
Cambridge Legacy Securities
Nationwide Planning Associates, Inc.
National Planning Corporation
NRP Financial Inc.
National Securities Corporation
NY Life Securities Inc.
Obsidian Financial Group, LLC
X'Xxxxx Xxxx & Co., Inc.
Xxxxxxxxxxx & Co., Inc.
Xxxxxxxxxxx & Co., Inc.
BROKER DEALER
P & A Financial Securities, Inc.
Park Avenue Securities, LLC.
Partnervest Securities, Inc.
Xxxxxxx Investment Company, Inc.
Private Consulting Group, Inc.
Penn Plaza Brokerage, LTD.
Xxxxxxxx Investments, Inc.
PFG Distribution Company
Pinnacle Investments, LLC
Purshe Xxxxxx Xxxxxxxx Investments
PlanMember Securities Corporation
Xxxxxxx Xxxxx & Associates, Inc.
Xxxxxxx Xxxxx Financial Services (fka I. M. & R, Inc.)
Prime Capital Services, Inc.
Prime Vest Financial Services, Inc.
Princor Financial Services Corporation
Pro Integrity Securities, Inc.
ING Financial Partners, Inc.
Pro Equities, Inc.
BROKER DEALER
Pruco Securities Corp
UBS Financial Services, Inc.
QA3 Financial Corp.
Questar Capital Corporation
Quest Capital Strategies, Inc.
R & W Brokerage, Inc.
Woodstock Financial Group, Inc.
Xxxxx X. Xxxxxx
Rampart Financial Services, Inc.
RDM Investment Services, Inc.
Regal Securities, Inc.
Resources Horizons Group, LLC
Retirement Capital Group Securities, Inc.
Essex National Securities, Inc.
RNR Securities, LLC.
Xxxx, X.X. Variable Corp.
BG Worldwide Securities, Inc.
Rockwell Global Capital, LLC
ING Financial Partners
Royal Alliance Associates, Inc.
X. Xxxxxxx & Co., Inc
BROKER DEALER
Sage, Xxxxx & Co., Inc.
SagePoint Financial, Inc (formerly AIG Financial Advisors, Inc.)
Citigroup Global Markets, Inc.
Sandgrain Securities, Inc.
Saperston Asset Management Inc.
Saxony Securities, Inc.
Summit Brokerage Services, Inc.
S.C. Xxxxxx & Co., Inc.
Xxxxx & Xxxxxxxxxxxx, Inc.
Preferred Financial Group
Securities America, Inc.
SEI Investments Distribution Co.
The Strategic Financial Alliance, Inc.
Xxxxxxx Securities Co. LLC
Sigma Financial Corporation
Signator Investors, Inc.
Signature Securities Group Corporation
SII Investments Inc.
National Planning Corporation
Sorrento Pacific Financial, LLC
Source Capital Group, Inc.
Traderight Securities
Securities Service Network, Inc.
SSI Equity Services, Inc.
Xxxxxx Xxxxx Financial Services, Inc.
BROKER DEALER
Xxxxxxx Xxxxx Group Securities LLC
Xxxxxxxx Xxxxxx Securities, LLC
TransAmerica Financial Advisors, Inc.
ING Financial Partners
Xxxxxx, Xxxxxxxx & Company, Inc.
SunTrust Investment Services, Inc.
Syndicated Capital, Inc.
TBN Securities & Insurance Services, Inc.
Cambridge Investment Research, Inc.
TD Waterhouse Investor Services, Inc.
Terra Securities Corporation (TSC)
RMIN Securities, Inc.
TFS Securities, Inc.
BNY Investment Center, Inc.
Xxxxxx Allied Company, LP
The Concord Equity Group, LLC
The Leaders Group, Inc.
Thrivent Investment Management, Inc.
BROKER DEALER
Triad Advisors, Inc.
Timecapital Securities Corp.
TransAmerica Financial Advisors, Inc.
Trevor, Xxxx, Xxxx & Xxxxxx, Inc.
Xxxxxx, Xxxxxxx & Co., Inc.
True North Financial Services, Inc.
Essex National Securities, Inc.
Xxxxxxx and Xxxx, Inc.
United Financial Group, Ltd.
Univest Securities Inc. DBA Universal Financial Group
United Planners Financial Services of America
Xxxxx Xxxxxxx & Co.
USF Securities, L.P.
USI Securities, Inc.
U.S. Wealth Advisors, LLC.
UVEST Investment Services
Investacorp, Inc.
Vanguard Capital/VanCapital Insurance Agency
Vanderbilt Securities, LLC.
Xxxxxxx & Company Securities, Inc.
VSR Financial Services Inc.
Wachovia Securities, LLC
Wall Street Financial Group, Inc.
BROKER DEALER
Walnut Street Securities, Inc.
ING Financial Partners, Inc.
Long Grove Trading Company (dba: Waterstone Financial Group)
WBB Securities, LLC
Wedbush Xxxxxx Securities, Inc.
Westco Investment Corp.
Western International Securities, Inc.
White Mountain Capital, LLC
Woodbury Financial Services, Inc.
Intersecurities, Inc.
WRP Investments, Inc.
Wachovia Securities Financial Network
Wachovia Securities, LLC
WaMu Investments, Inc.
