Defendant Name: General American Life Insurance Company, Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 34-63144

Document Details

Legal Case Name In the Matter of General American Life Insurance Company and William C. Thater
Document Name Order Discharging Plan Administrator and Terminating Fair Fund
Document Date 21-Oct-2010
Document Format Administrative Proceeding
File Number 3-12720
Allegation Type Investment Advisers/Investment Companies
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Fair Funds
Plan of Distribution
Monetary Penalties:

Disgorgement

Individual:     $1.00 Shared:    

Civil Penalty

Individual:     $3,300,000.00 Shared:    

Total Penalty

Individual:     Shared:     $3,463,138.49
Shared with: William C. Thater

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."

Other Defendants in Action:

William C. Thater