Defendant Name: Transamerica Financial Advisors, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Aegon N.V.
SIC Code: 6311
CUSIP: 00792410

Initial Case Details

Legal Case Name In the Matter of Transamerica Financial Advisors, Inc.
First Document Date 03-Apr-2014
Initial Filing Format Administrative Action
File Number 3-15822
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 206(2), 206(4), 207 Investment Advisers Act; Rule 206(4)-7 Investment Advisers Act

Resolutions

First Resolution Date 03-Apr-2014
Headline Total Penalty and Disgorgement $553,624

Related Documents:

2014-64 03-Apr-2014 Press Release--Administrative Proceeding
SEC Charges Transamerica Financial Advisors With Improperly Calculating Advisory Fees and Overcharging Clients
On April 3, 2014, the SEC announced "charges against a St. Petersburg, Fla.-based financial services firm for improperly calculating advisory fees and overcharging clients." According to the SEC: "As a result of the SEC investigation, the firm reviewed client records and has reimbursed 2,304 current and former client accounts with refunds and credits totaling $553,624 including interest."
34-71850 03-Apr-2014 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On April 3, 2014, the SEC instituted settled administrative and cease-and-desist proceedings against Transamerica Financial Advisors, Inc. ("TFA"). According to the SEC: "TFA, a registered investment adviser and broker-dealer, failed to apply advisory fee discounts to certain retail clients in several of its advisory fee programs contrary to its disclosures to clients and its policies and procedures."