Suitability rules are in effect for broker-dealers when they guide clients on variable-annuity decisions as large carriers seek to shed their liabilities related to such products, according to regulators and industry experts. In cases such as when a carrier offers buyouts, "if a carrier wants to get rid of unprofitable business, use your due diligence team to come up with an internal review," said Jim Shorris, executive vice president and deputy general counsel at LPL Financial.

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