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To: shades who wrote (60254)5/4/2006 4:12:40 AM
From: shades  Respond to of 110194
 
Raymond James To Require Variable Annuities Restructuring

Dow Jones Newswires

Raymond James Financial Inc. (RJF) will require the restructuring of variable annuities in an effort to reduce client costs without affecting benefits.

The St. Petersburg, Fla., financial services company said it expects the alternative pricing structure will have a short-term impact to revenue, but sees longer-term benefits in the form of improved client retention.

The company noted the requirement will be effective in August.

-John Seward; 201-938-5400; AskNewswires@dowjones.com


(END) Dow Jones Newswires

May 03, 2006 17:34 ET (21:34 GMT)



To: shades who wrote (60254)5/4/2006 10:55:50 AM
From: LLCF  Respond to of 110194
 
<Under the 2002 Sarbanes-Oxley law, public companies are required to assess each year the quality of internal controls over financial reporting, with attestation by outside auditors. The requirement was mandated in the aftermath of the Enron Corp. and WorldCom Inc. scandals, when lapses in internal checks and balances were seen as contributing to massive frauds. >

LOL... so you get auditors to assess your auditors. If they'd throw these Enron guys in jail, maybe the wouldn't have to have all these stupid rules!!

dAK