fiduciary duty that an investment adviser owes to his clients.â. 13 Section 206 is, after all, an anti-fraud provision and the SEC has on occasion defined as âfraudulentâ under Section 206. conduct that would not seem to be recognized as âfraudâ at common law.
What is a gift annuity agreement? A gift annuity agreement is a lifelong contract, not a trust, between a single nonprofit organization and an individual or couple, who are referred to as annuitant(s). The terms of this agreement will lock in the rate, amount and timing of all payments the annuitant(s) receive.
annuity. 1  a specified income payable at stated intervals for a fixed or a contingent period, often for the recipient's life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment. 2  the right to receive such an income, or the duty to make such a payment or payments.