Equitable Holdings
EQH
Financials
2
exclusion reasons
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Targeted K-12 public school teachers with EQUI-VEST variable annuities while systematically hiding up to 1.49% mortality/expense fees and 2.26% portfolio operating fees — showing "$0.00 in fees" on quarterly statements. SEC $50M penalty (2022).
Equitable Financial Life Insurance Company agreed to pay a $50 million penalty to settle SEC charges in July 2022. The charges centered on failures to supervise its financial professionals, who recommended unsuitable variable annuity investment products to public school teachers and other retail investors. The settlement required Equitable to pay harmed investors, a group predominantly consisting of teachers and school staff members.
In a separate 2025 case, *Hobish v. AXA Equitable Life Insurance Co.*, plaintiffs filed suit in New York Supreme Court alleging breach of contract and deceptive practices under state consumer protection law. This pattern of misconduct involves complex financial products sold to unsophisticated retail investors, resulting in significant consumer harm.
Research Sources
10 organizations
Related Exclusions
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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