"The case will definitely have a chilling effect, " said Larry Rybka, chief executive of ValMark Securities Inc. in Akron, Ohio, which includes an insurance brokerage.
So the sailors called it the "Little Golden Fish" - or "Zolotaya Rybka" in Russian - after a magical, fairy-tale fish which makes people's wishes come true.
Mr. Rybka fired off a memo last month on the case to his firm's internal compliance and marketing teams, reinforcing instructions to make sure brokers warn prospective buyers of the withdrawal penalties and other features.