SEC
Whistleblower
Attorneys

July 28, 2020

VALIC Financial Advisors Inc.

Financial Fraud

SANCTION AMOUNT: $20000000

Defendants: VALIC Financial Advisors Inc.

Settlement of charges that Respondent failed to disclose that its parent company, The Variable Annuity Life Insurance Company, paid a for-profit entity owned by Florida K-12 teachers’ unions to promote the companies’ financial services and products to the teachers. The SEC’s Order found that this violated the Investment Advisers Act of 1940 and certain Rules thereunder.

Named one of the top whistleblower practices/attorneys in the country by The New York Times, Wall Street Journal and NPR
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