What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: July 29, 2015

Did you lose money with Transamerica Financial Advisors? If so, please call our Chicago-based securities law office at 312-332-4200 to speak to an attorney about your options. We sue firms such as Transamerica in the Financial Industry Regulatory Authority (FINRA) arbitration forum to recover financial losses for investors.

Transamerica Financial Advisors entered into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA recently for allegations that the firm failed to apply volume discounts to certain customers’ eligible purchases of non-traded real estate investment trusts (REITs) and business development companies (BDCs). The firm failed to have in place an effective supervisory system and written supervisory procedures reasonably designed to ensure that its customers received appropriate volume discounts on eligible purchases of non-traded REITs and BDCs. This resulted in certain customers paying excessive sales charges of $51,000. For this, Transamerica was censured and fined $85,000 and ordered to pay restitution in the amount of $51,066.08 plus interest.

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