Sunday, October 2, 2022
HomeLife InsuranceAllianz to Promote U.S. Fund Administration Unit to Voya After SEC Ban

Allianz to Promote U.S. Fund Administration Unit to Voya After SEC Ban


Allianz International Traders U.S. agreed to plead responsible to fraud and pay $5.8 billion in fines and restitution after a comparatively low-risk group of funding funds collapsed within the wake of pandemic market gyrations.

The responsible plea means it’s “disqualified from offering advisory companies to US registered funding funds for the following 10 years, and can exit the enterprise of conducting these fund companies,” the Securities and Change Fee mentioned in an announcement Tuesday.

Gregoire Tournant, a former government with the agency, was taken into custody Tuesday and charged individually for his function within the alleged scheme to defraud buyers, Manhattan U.S. Lawyer Damian Williams mentioned in a separate assertion.

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