Summit’s Chief Compliance Officer Speaks on SIFMA Variable Annuities Compliance Panel

April 24, 2007, Summit Brokerage Services’ Executive Vice President and Chief Compliance Officer, Michael Hill, participated as a panelist on the Understanding Variable Annuity Regulation and Compliance panel during the Securities Industry Financial Markets Association’s Independent Firms Conference in Baltimore, Maryland. During a full session, Hill shared with the attendees, many of which included executives from many of the leading independent broker-dealers, Summit’s best practices in variable annuity disclosure at the point of sale and enhanced suitability review. “Achieving a high comfort level that the customer is informed of the necessary disclosures, through documentation, as well as ensuring that the annuity sale is suitable, is very important to Summit,” says Hill. “We strive to achieve regulatory compliance with variable annuity sales.”