Four Transamerica entities will pay $97.6 million to settle U.S. Securities and Exchange Commission charges that they sold investments that were supposedly based on quantitative models but which did not work as intended, the regulator said on Aug. 27.
The settlement with the units of Netherlands-based Aegon NV includes a $36.3 million civil fine plus $61.3 million of disgorged sums and interest, all of which will be returned to investors.
