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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

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Allianz International Buyers 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 providers to US registered funding funds for the subsequent 10 years, and can exit the enterprise of conducting these fund providers,” the Securities and Trade Fee stated in a press release Tuesday.

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

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