Regulators Document Persistent Pattern of "Outperformance" Claims in Annuity Seminars

SEC and FINRA enforcement records show repeated misleading claims at retirement seminars, particularly that annuities can beat market returns. The 2025 FINRA Annual Regulatory Oversight Report flags false or misleading documentation in variable annuity transactions as an active compliance concern. Such claims collapse under expected-value analysis when participation caps, spreads, and fees are included. Rule 2210 prohibits member firms from making false or misleading statements in any communication, including seminar materials.