By Kyle Brasseur2024-02-19T16:00:00
A subsidiary of the Teachers Insurance and Annuity Association of America (TIAA) agreed to pay more than $2.2 million as part of a settlement with the Securities and Exchange Commission (SEC) for not acting in the best interest of its retail customers regarding their retirement accounts.
TIAA-CREF Individual & Institutional Services (TC Services) violated Regulation Best Interest’s (Reg BI) disclosure, care, and compliance obligations, the SEC announced in a press release Friday.
The firm agreed to pay a $1.25 million penalty, disgorgement of nearly $937,000, and about $103,000 in prejudgment interest.
2024-09-18T18:53:00Z By Aaron Nicodemus
First Horizon Advisors will pay a $325,000 fine to settle allegations from the Securities and Exchange Commission that it violated Regulation Best Interest in part due to issues with incorporating a merged firms’ accounts into its systems.
2023-11-21T16:56:00Z By Kyle Brasseur
Registered broker-dealer Laidlaw and Company agreed to pay more than $800,000 as part of a settlement with the Securities and Exchange Commission addressing multiple alleged violations of Regulation Best Interest.
2023-09-29T14:51:00Z By Kyle Brasseur
Citigroup Global Markets and Citi International Financial Services agreed to pay a total of nearly $2 million as part of a settlement with the Securities and Exchange Commission resolving allegations they violated the disclosure obligations of Regulation Best Interest.
2025-07-30T17:56:00Z By Aly McDevitt
The Department of Labor is using poultry processing company Mar-Jac Poultry as an example of what will happen when companies repeatedly employ underage workers in hazardous conditions. Hint: Companies can’t pin the blame on staffing agencies.
2025-07-29T18:30:00Z By Ian Sherr
Chip design software and hardware maker Cadence Design Systems agreed to plead guilty to unlawfully exporting semiconductor design tools to a restricted Chinese military university, the Department of Justice said in a statement. The California firm will pay over $140 million in criminal and civil pines and forfeitures, marking the ...
2025-07-29T17:34:00Z By Oscar Gonzalez
The Department of Justice fired two officials who were part of its antitrust division on Monday. The move, reported by CBS News, marks the latest effort from the Trump administration to ease regulations for companies and rollback of antitrust enforcement.
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