Officials from the Securities and Exchange Commission and the Financial Industry Regulatory Authority issued some warnings about annuities on Tuesday.

FINRA views variable annuities as complex products, Daniel Sibears, executive vice president of member regulation programs at FINRA, told attendees at the Insured Retirement Institute's government, legal and regulatory conference in Washington.

VAs today "are more complicated with more riders and features," and like any other complex product that's on FINRA's radar screen, he warned attendees that FINRA is looking closely at disclosure, suitability and yield chasing practices associated with VAs. His advice: make sure you're doing the proper due diligence.

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