Defendant Name: General American Life Insurance Company, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: MetLife, Inc
SIC Code: 6411
CUSIP: 59156R10

Initial Case Details

Legal Case Name In the Matter of General American Life Insurance Company and William C. Thater
First Document Date 09-Aug-2007
Initial Filing Format Administrative Action
File Number 3-12720
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Related Violations Alleged

General American Life Insurance Company, Inc. is alleged to have aided and abetted an unidentified individual or entity's violation of Rule 22c-1 Investment Company Act (willfully/knowingly).
General American Life Insurance Company, Inc. is alleged to have caused an unidentified individual or entity's violation of Rule 22c-1 Investment Company Act.

Resolutions

First Resolution Date 09-Aug-2007
Headline Total Penalty and Disgorgement $3,463,138

Related Documents:

33-8832 09-Aug-2007 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933, Sections 15(b) and 21C of the Securities and Exchange Act of 1934, and Sections 9(b) and 9(f) of the Investment Company Act of 1940
On August 9, 2007, the SEC instituted settled administrative and cease-and-desist proceedings against General American Life Insurance Company and William C. Thater. According to the SEC: "From January 2002 through November 2002 ('the relevant period'), Thater permitted and General American failed to prevent late trading of underlying mutual funds that were offered through General American's private placement variable universal life insurance ('PPVUL') policies."
34-56702 25-Oct-2007 Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "Damasco . . . is appointed the Tax Administrator for the QSF in the above-referenced proceeding."
34-60447 05-Aug-2009 Administrative Proceeding
Order Directing Disbursement of Fair Fund
The SEC stated: "Accordingly, it is ORDERED that the Commission staff shall disburse the Fair Fund in the amount stated in the validated electronic payment file of $3,532,822.80, as provided for in the Distribution Plan."
34-63144 21-Oct-2010 Administrative Proceeding
Order Discharging Plan Administrator and Terminating Fair Fund
On October 21, 2010, the SEC ordered the termination of the Fair Fund and the discharge of the Plan Administrator. According to the SEC: "Pursuant to the Final Accounting, $4,435.67 in residual funds is to be transmitted to the U.S. Treasury."

Other Defendants in Action:

William C. Thater