SEC Fines Aegon $97 Million Over Rookie's 'Emotionless' Investing [TheStreet.com]
Aegon Ltd. New York Registry Shares (AEG)
US:NYSE Investor Relations:
aegon.com/investors
Company Research
Source: TheStreet.com
Money managers often claim to have a secret sauce. Sometimes, though, the recipe comes not from a topflight executive chef but a junior line cook. The Securities and Exchange Commission on Monday alleged that affiliates of Aegon NV ( AEG ) , a giant Dutch insurer and money manager, sold mutual funds and investment products based on faulty quantitative models developed by an inexperienced staffer with scant training, according to a press release Monday. Such quantitative models typically involve the use of specialized computer programs to determine which assets to buy or sell. The staffer wasn't identified. The four Aegon affiliates, which included Aegon USA Investment Management as well as Transamerica Asset Management, agreed to settle the charges by paying a combined $97 million in disgorgement of profits, interest and penalties. The violations occurred from 2011 through 2015, according to the agency. The investment models were developed solely by an inexper
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AEG
News
- Aegon Ltd. (NYSE: AEG) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
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AEG
Sec Filings
- 4/10/24 - Form 6-K
- 4/9/24 - Form 6-K
- 4/4/24 - Form IRANNOTICE
- AEG's page on the SEC website