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Company Name: Aetna
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Problem Type:
Financial Institution
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12b-1: NA%
OER: NA%
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Date/Problem:
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Publicity Source:
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Status-Ongoing Resolution:
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Fund Police Opinion:
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10/20/2004 Elliot Spitzer has requested information from Aetna to obtain documents that describe possible improper payments made to brokers for life insurance sales.
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Wall Street Journal
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Shares of Aetna have tumbled in value since news of the investigation. Other insurance companies who are being investigated are seeing their shares' values drop as well.
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While FP is not sure of the depth of involvement, we are sure that insurance companies in general have flawed customer ethics procedures.
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6/17/2004 Elliot Spitzer is investigating the hidden compensation deals between the firms and brokers who sell the insurance.
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Financial Planning Magazine
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Uncertain at this time
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Go Spitzer! Fund Police believes the layers of fat and hidden arrangements are probably the worst with insurance products, such as annuities.
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