Falcone is barred from running annuity issuer Fidelity & Guaranty

New York Department of Financial Services Superintendent Benjamin Lawsky has barred Harbinger Capital Partners founder Philip Falcone from participating in the management of any insurance company licensed by the state of New York for seven years. The order prohibits Falcone during the ban from having any role in running Fidelity & Guaranty Life, a specialist in fixed annuities.

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Wall Street Journal (tiered subscription model), The · Bloomberg · National Underwriter Life & Health

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