TIAA attachment to pay$2.2 mln to settle US civil charges- SEC

TIAA attachment to pay$2.2 mln to settle US civil charges- SEC

 

NEW YORK, Feb 16( Reuters)- A attachment of preceptors Insurance and Annuity Association of America( TIAA) has agreed to pay over$2.2 million to settle charges it brokeU.S. Securities and Exchange Commission rules governing broker- dealers, the controller said on Friday.
TIAA- CREF Individual & Institutional Services LLC violated similar rules when it failed to inform Individual Retirement Account guests that they could pierce similar, lower- cost products, among other issues, the SEC said.