Transamerica to Pay $8.8M Over Annuity, Fund & 529 Supervisory Failures
December 23, 2020 by Allison Bell
Transamerica Financial Advisors has agreed to pay $8.8 million in restitution and fines to settle claims that it failed to provide adequate supervision of registered representatives in connection with the sale of variable annuities, mutual funds and 529 plans, according to the Financial Industry Regulatory Authority.
Without admitting or denying the allegations, Transamerica Financial Advisors consented to the entry of FINRA’s findings, FINRA said Monday.
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Originally Posted at ThinkAdvisor on December 21, 2020 by Allison Bell.
Categories: Industry Articles