
To resolve litigation relating to variable annuities, Waddell & Reed agreed to repay up to $11 million to more than 5,000 customers along with a fine of $5 million to NASD and a fine of $2 million to state regulators. For more info visit https://disb.dc.gov/sites/default/files/dc/sites/disb/publication/attachments/sb-05-04_waddell_and_reed.pdf