Great-West B-D to pay $1.5 million over retirement account failures
The Securities and Exchange Commission says the firm knew that hackers were trying to access participant accounts but didn’t report them.
May 12, 2021
The Securities and Exchange Commission has censured and imposed a $1.5 million penalty on Colorado-based GWFS Equities, a broker-dealer affiliate of Great-West Life & Annuity Insurance Co. that specializes in managing retirement accounts, for failing to file approximately 130 suspicious activity reports.
GWFS is record keeper for retirement plans with approximately 9.4 million participant accounts and more than $700 billion in assets, according to the SEC.
The SEC charged that from September 2015 through October 2018, GWFS was aware that hackers were making increasing attempts to gain access to the retirement accounts of individual plan participants.
CalSTRS CEO looks back on 20 years of triumphs and challenges
CalSTRS CEO looks back on 20 years of triumphs and challenges
Retiring CalSTRS CEO Jack Ehnes
Jack Ehnes said he thrives on challenges, and during his close to 20 years at the helm of the nation s second-largest public pension plan, there have been some doozies.
During Mr. Ehnes tenure as CEO, officials at the California State Teachers Retirement System, West Sacramento, have been tested by a funding crisis, efforts to replace public employee defined benefit plans with defined contribution plans, legislation to cut pension benefits and a worldwide pandemic.
This is Mr. Ehnes second attempt at retiring from his post at CalSTRS. He originally announced on March 5, 2020, he would be retiring in September but, at the behest of the board, Mr. Ehnes delayed his retirement to continue leading the plan through the COVID-19 pandemic. He is now slated to retire from the $291.7 billion pension fund on June 30.
Nationwide Launches New Heights Select Fixed Indexed Annuity insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Nationwide Launches the Nationwide Peak 10® Fixed Indexed Annuity with New Development and Distribution Partner AmeriLife®
January 22, 2021 GMT
(PRNewsfoto/AmeriLife)
COLUMBUS, Ohio, Jan. 22, 2021 /PRNewswire/ Nationwide, a financially strong and diversified, Fortune 100 insurance and financial services company, announces the launch of the Nationwide Peak 10® fixed indexed annuity. Peak 10 is the latest addition to Nationwide’s diverse product lineup, and its first annuity in partnership with AmeriLife, a national leader in developing and distributing annuities and retirement planning solutions.
“According to our latest Advisor Authority study, protecting against market losses due to COVID-19 is investors’ number-one financial concern, with protecting assets a close second, and managing volatility third,” said Eric Henderson, president, Nationwide Annuity, at Nationwide Finan
Protective Life completes acquisition of Revolos companies
Updated Jan 11, 2021;
Facebook Share
Maynard, Cooper & Gale acted as external legal counsel for Protective.
Revolos offers finance and insurance products, including vehicle service contracts, guaranteed asset protection coverage and ancillary products serving the automotive, recreational vehicle and powersports industries. It has 3,000 dealers, agents, and financial institutions in the U.S., and has distributed more than $250 million in underwriting gains and investment income.
Protective had assets of approximately $125 billion at the close of the 2020 fiscal year.
Note to readers: if you purchase something through one of our affiliate links we may earn a commission.