Defendant Name: Transamerica Retirement Advisors, LLC

Defendant Type: Subsidiary of Public Company

Document Reference: IA-6876

Document Details

Legal Case Name In the Matter of Transamerica Retirement Advisors, LLC
Document Name Amended Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to 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
Document Date 25-Apr-2025
Document Format Administrative Proceeding
File Number 3-22426
Allegation Type Investment Advisers/Investment Companies
Document Summary The Commission stated that "this Amended Order and Respondent’s Amended Offer . . . modify the calculation method by which Respondent shall distribute the civil monetary penalty to affected investors."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
The Commission ordered that: "Respondent shall be responsible for administering the Fair Fund and may hire a professional at its own cost to assist it in the administration of the distribution. The costs and expenses of administering the Fair Fund, including any such professional services, shall be borne by Respondent and shall not be paid out of the Fair Fund."
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Fair Funds
Monetary Penalties:

Civil Penalty

Individual:     $2,900,000.00 Shared:    

Related Documents:

IA-6826 17-Jan-2025 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to 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 January 17, 2025, the SEC instituted settled administrative and cease-and-desist proceedings against, stating: "Transamerica Retirement Advisors, a registered investment adviser, breached its fiduciary duty to certain of its advisory clients by failing to disclose conflicts of interest created by paying incentive compensation to its investment advisor representatives in connection with the rollover of retirement assets to accounts with Transamerica Retirement Advisors."
IA-6826-s 17-Jan-2025 Administrative Summary
SEC Charges Investment Adviser for Failing to Disclose Conflicts of Interest Created by Paying Incentive Compensation, Orders It to Pay Affected Clients
On January 17, 2025, the SEC "announced settled charges against registered investment adviser Transamerica Retirement Advisors, LLC (“Transamerica”) for failing to disclose conflicts of interest created by Transamerica’s incentive compensation payments to investment adviser representatives (“IARs”) in connection with the referral and rollover of retirement assets to thousands of Transamerica accounts. The SEC also charged Transamerica with failing to implement disclosure-related policies and procedures."