SEC Hits Dutch Asset Manager AEGON with $98 Million Fine

[kreslik.news]

The Securities and Exchange Commission said Monday that it has reached settlements with US subsidiaries of AEGON, under which the global asset manager agreed to pay approximately $98 million over errors related to an asset allocation models used on a series of Transamerica funds.

The investigation was launched after Aegon had discovered errors in certain investment strategies developed by a former portfolio manager of Aegon USA Investment Management, LLC and offered through Transamerica mutual funds.

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Aegon is a multinational life insurance, pensions and asset management company headquartered in Netherlands.

The investigation process ... (read more)