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.
What is an 'Annuity' An annuity is a contractual financial product sold by financial institutions that is designed to accept and grow funds from an individual and then, upon annuitization, pay out a stream of payments to the individual at a later point in time.