July 24, 2015- St. Petersburg, Florida
Transamerica Financial Advisors (Transamerica) , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that from January 2012 to February 2014 the firm failed to apply volume discounts to certain customer’s purchases of non-traded real estate investment trusts (REITs) and business development companies (BDCs) in violation of FINRA Rule 2010 and failed to have in place an effective supervisory system designed to ensure compliance.
AWC NO. 2014042291801
Transamerica was censured, fined $85,000 and ordered to pay restitution of $51,066 to affected customers.
Transamerica has been a FINRA member since 1985, is headquartered in St. Petersburg, Florida , and has nearly 5,000 registered representatives in 1,100 branch offices nationwide.
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