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Unless NASD is talking about registered index annuities, this request is a bit of a puzzler because the language of Rule 2210 talks about mutual funds, variable contracts, direct participation programs, and never mentions fixed annuities.
participates in the development of fields in the oil & gas industry throughout the entire state of Texas offering oil and gas investment opportunities through investment joint ventures and direct participation programs. These programs provide the opportunity for investors to potentially take advantage of unique tax benefits and potential cash flow through oil and gas investments.