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August 24, 2010

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Illinois Annuity News

Three Samsung Executives Agree to Plead Guilty, Serve Jail Time

Three executives from Samsung Electronics Company Ltd., the world's largest manufacturer of a common computer component called dynamic random access memory (DRAM), have agreed to plead guilty and to serve jail time in the United States for participating in a global conspiracy to fix DRAM prices, the Department of Justice announced.

Four companies and 12 individuals have been charged and fines totaling more than $731 million have resulted from the Department's DRAM investigation. It is the second largest amount of fines ever collected by the Department of Justice from a single price-fixing conspiracy.

Each executive also has agreed to pay a $250,000 fine and to cooperate in the Antitrust Division's ongoing investigation of the DRAM industry. In agreeing to plead guilty, the executives have agreed not to contest the jurisdiction of the United States, so extradition will not be required. The pleas and sentences are subject to the approval of the U.S. District Court in San Francisco.

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Did You Know?

The NASD Reminds Members of Their Responsibilities Regarding the Sales of Variable Annuities
NASD is an independent self-regulatory organization charged with regulating the securities industry, including sellers of variable annuities. The NASD recently issued a release to its members reminding them of their responsibilities to investors in selling variable annuities (NASD Notice 99-35, "The NASD Reminds Members of Their Responsibilities Regarding the Sales of Variable Annuities").

	Newsroom
	Latest news about Annuity cases in Illinois and nationwide: Denn Bars Company From Doing Business In Delaware An Ohio investment company has been barred from doing business in Delaware and agreed to pay a $15,000 administrative assessment to resolve a compl... Read more > SEC’s Office of the Chief Accountant and Divisions of Corporation Finance and Investment Management Release Staff Accounting Bulletin 108 There have been two common approaches used to quantify such errors. Under one approach, the error is quantified as the amount by which the... Read more > Agent Arrested in Annuity Fraud Scheme Agent Arrested in Annuity Fraud Scheme David Franklyn McMillin, an Austin life insurance agent, has been arrested on charg... Read more > More Annuity News >

Annuity Lawyers.com Terms

Today's Terms

Option A

Definition:
$10,000 in coverage that you can elect in addition to Basic insurance. Also called standard optional insurance.

Annuity, Reduced

Definition:
A retiree's basic annuity that is reduced because of retirement before a certain age (for reasons other than disability). Annuities are also reduced because of unpaid deposits or redeposits, or to provide a survivor annuity. (Also called reduced benefits.)

Annuity, Postponed

Definition:
Delaying your FERS annuity benefit to sometime in the future after meeting your Minimum Retirement Age but before age 62.

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Annuity Law Hot Topics

Topics Related to Annuity:

Client Manipulation
Providing False Information
Lying to Auditors
Unauthorized Transactions
Breach of Fiduciary Duty
Broker Embezzlement

Illinois Annuity-Law Attorney

If you live in the following cities and need an Annuity-Law attorney you should contact our Annuity-Law Attorney as soon as possible:

Arlington Heights
Aurora
Bartlett
Berwyn
Bolingbrook
Buffalo Grove
Carol Stream
Chicago
Chicago Heights
Cicero
Des Plaines
Elgin
Glenview
Granite City

Harvey
Joliet
Lockport
Lombard
Mchenry
Moline
Mount Prospect
Normal
Oak Lawn
Palatine
Plainfield
Tinley Park
Waukegan
Wheaton

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