Defendant Name:
RiverSource Distributors, Inc.
Defendant Type:
Subsidiary of Public Company
Document Reference:
2022-89
Document Details
Legal Case Name
In the Matter of RiverSource Distributors, Inc.
Document Name
SEC Charges RiverSource Distributors with Improper Switching of Variable Annuities
Document Date
25-May-2022
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
The SEC "announced settled charges against RiverSource Distributors Inc. for improper switching or replacing of variable annuities. This is the SEC’s first-ever enforcement proceeding under Section 11 of the Investment Company Act of 1940."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Civil Penalty
Individual:
$5,000,000.00
Shared: