Securities and Exchange Commission v. Cutter Financial Group, LLC et al

  1. December 14, 2023

    Judge Says SEC Annuity Suit Doesn't Supersede State Law

    A Massachusetts federal judge on Thursday denied a dismissal bid by investment adviser Jeffrey Cutter and his firm against the U.S. Securities and Exchange Commission's suit alleging he lied about commissions he was earning off clients' annuity plans, saying the regulator adequately claimed that Cutter failed to make required disclosures to clients.

  2. September 28, 2023

    Adviser Says SEC Stretching Law Too Far With Annuity Case

    A Massachusetts investment adviser accused of churning clients' annuity plans to reap lucrative commissions urged a federal judge Thursday to toss what he called the U.S. Securities and Exchange Commission's novel enforcement push into traditionally state-governed insurance annuity sales.

  3. September 06, 2023

    Trade Group Says SEC Overstepped In Annuities Sales Suit

    A trade group for the fixed annuities industry has urged a Massachusetts federal judge to dismiss the U.S. Securities and Exchange Commission's suit accusing an investment adviser of hiding the lucrative upfront commissions he made on his clients' indexed annuities, arguing the agency relies on flawed reading of the Investment Advisers Act and previous, irrelevant enforcement actions.

  4. July 31, 2023

    SEC Fights To Keep Annuity Commissions Suit Alive

    The U.S. Securities and Exchange Commission has urged a Massachusetts federal judge not to toss its suit accusing an investment adviser of keeping his clients in the dark about the lucrative upfront commissions he made on their insurance annuities, arguing that its claims are sufficient and lay out the "who, what, when, where, and how" of the alleged fraud.

  5. May 16, 2023

    Investment Adviser Rips SEC's Insurance Annuity Power Grab

    The U.S. Securities and Exchange Commission has gone too far in an enforcement action seeking to extend its authority to sales of insurance products, according to a Massachusetts investment adviser and insurance broker seeking dismissal from the civil suit.

  6. March 20, 2023

    SEC Says Mass. Money Manager Hid Annuity Commissions

    A Massachusetts investment adviser kept his clients in the dark about the lucrative up-front commissions he made on their insurance annuities, violating his fiduciary duty through a "pattern of deception" to hide the incentives, the U.S. Securities and Exchange Commission has said in a civil enforcement action.