Defendant Name:
Transamerica Financial Advisors, Inc.
Defendant Type:
Subsidiary of Public Company
Document Reference:
2014-64
Document Details
Legal Case Name
In the Matter of Transamerica Financial Advisors, Inc.
Document Name
SEC Charges Transamerica Financial Advisors With Improperly Calculating Advisory Fees and Overcharging Clients
Document Date
03-Apr-2014
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant