SEC Reaches $97M Settlement With Investment Adviser Over Client Recommendations

(July 14, 2021, 8:21 AM EDT) -- WASHINGTON, D.C. — TIAA-CREF Individual & Institutional Services LLC has agreed to pay $97 million to settle Securities and Exchange Commission claims alleging that the dually registered investment adviser and broker-dealer violated federal securities laws by issuing false and misleading statements and failing to adequately disclose conflicts of interest to clients who invested in certain employer-sponsored retirement plans (ESPs)....

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