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.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
2025-09-09T16:51:00Z By Oscar Gonzalez
A Houston-based freight forwarder, Fracht FWO Inc., will pay $1.6 million for violating U.S. sanctions tied to Venezuela and Iran, according to the Treasury Department’s Office of Foreign Assets Control (OFAC). The fine comes as OFAC ramps up enforcement in recent months.
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