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Transamerica Fines in 2015

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Transamerica Financial Advisors was fined $50,000 by regulators for failing to disclose on an employees work records that she had been charged with a felony crime before her employment termination. The firm filed with FINRA, the Financial Industry Regulatory Authority, the brokerage self-regulator, that the employee had not been charged with a felony, which was false.
(January 20, 2015 2012034686802)

Transamerica Financial Advisors was fined $85,000 and ordered to improve its supervision. Transamerica Financial Advisors failed to identify and apply volume discount to certain customers eligible for discounts in REITs (Real Estate Investment Trust) resulting in customers overpayment. Transamerica Financial Advisors was found by regulators to have failed to establish, maintain, and enforce a supervisory system and written supervisory procedures that would identify account that would be eligible for volume discounts.
(July 27, 2015 2014042291801)


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