Assets under management Growth by Quarter
Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.
Total AUM
Total Accounts
10Y AUM Change
Private Funds
Private funds reported by Bow River Advisers, LLC
Loading private fund disclosures…
Employee Growth by Quarter
Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.
Total Employees
Clients per Employee
10Y Employee Change
Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.
Ownership
Reported direct and indirect ownership ranges
Each range applies to a separate reported relationship and should not be added together.
Reported ownership ranges
Highlighted bands show the percentage range reported in Form ADV.
0%25%50%75%100%
BOW RIVER ASSET MANAGEMENT, LLCDirect owner · Schedule AInterest in BOW RIVER ADVISERS, LLC
50% to < 75%
NEW YORK LIFE INVESTMENT MANAGEMENT HOLDINGS LLCDirect owner · Schedule AInterest in BOW RIVER ADVISERS, LLC
25% to < 50%
JEREMY DAVID HELDDirect owner · Schedule AInterest in BOW RIVER ADVISERS, LLC
10% to < 25%
BOW RIVER ASSET MANAGEMENT CORPORATION IIIndirect owner · Schedule BInterest in BOW RIVER ASSET MANAGEMENT INTERMEDIATE LLC
75%+
NEW YORK LIFE INSURANCE COMPANYIndirect owner · Schedule BInterest in NEW YORK LIFE INVESTMENT MANAGEMENT HOLDINGS LLC
75%+
BOW RIVER ASSET MANAGEMENT INTERMEDIATE LLCIndirect owner · Schedule BInterest in BOW RIVER ASSET MANAGEMENT, LLC
75%+
BLAIR ELLARD RICHARDSONIndirect owner · Schedule BInterest in BOW RIVER ASSET MANAGEMENT CORPORATION II
25% to < 50%
RICHARDSON 2012 TRUSTIndirect owner · Schedule BInterest in BOW RIVER ASSET MANAGEMENT CORPORATION II
25% to < 50%
Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Bow River Advisers, LLC.
Reported ownership and control details
Form ADV · Filing date 2026-03-30 · Schedules A and B
| # | Owner / person & role | Interest in entity | Reported interest | Control person | Title / status acquired | Source |
|---|---|---|---|---|---|---|
| 1 | BLAIR ELLARD RICHARDSONCHIEF EXECUTIVE OFFICERIndividual | BOW RIVER ADVISERS, LLC | Less than 5%Code NA | Yes | CHIEF EXECUTIVE OFFICER02/2023 | Schedule APDF page 60 |
| 2 | JAMISON REID DAVISCHIEF FINANCIAL OFFICERIndividual | BOW RIVER ADVISERS, LLC | Less than 5%Code NA | Yes | CHIEF FINANCIAL OFFICER02/2023 | Schedule APDF page 60 |
| 3 | JAMES DANIEL KERRCHIEF COMPLIANCE OFFICERIndividual | BOW RIVER ADVISERS, LLC | Less than 5%Code NA | Yes | CHIEF COMPLIANCE OFFICER02/2023 | Schedule APDF page 60 |
| 4 | JANE CLAYTON INGALLSCHIEF OPERATING OFFICER, PRESIDENTIndividual | BOW RIVER ADVISERS, LLC | Less than 5%Code NA | Yes | CHIEF OPERATING OFFICER, PRESIDENT02/2023 | Schedule APDF page 60 |
| 5 | JEREMY DAVID HELDMANAGING DIRECTORIndividual | BOW RIVER ADVISERS, LLC | 10% to less than 25%Code B | Yes | MANAGING DIRECTOR02/2023 | Schedule APDF page 61 |
| 6 | BOW RIVER ASSET MANAGEMENT, LLCMEMBERDomestic entity | BOW RIVER ADVISERS, LLC | 50% to less than 75%Code D | Yes | MEMBER02/2023 | Schedule APDF page 61 |
| 7 | NEW YORK LIFE INVESTMENT MANAGEMENT HOLDINGS LLCMANAGING MEMBERDomestic entity | BOW RIVER ADVISERS, LLC | 25% to less than 50%Code C | No | MANAGING MEMBER12/2023 | Schedule APDF page 61 |
| 8 | JOSEPH DAVID STORKDIRECTORIndividual | BOW RIVER ADVISERS, LLC | Less than 5%Code NA | Yes | DIRECTOR01/2026 | Schedule APDF page 61 |
| 9 | JENNIFER LEVESQUEDIRECTORIndividual | BOW RIVER ADVISERS, LLC | Less than 5%Code NA | Yes | DIRECTOR01/2026 | Schedule APDF page 61 |
| 10 | BOW RIVER ASSET MANAGEMENT CORPORATION IIMEMBERDomestic entity | BOW RIVER ASSET MANAGEMENT INTERMEDIATE LLC | 75% or moreCode E | Yes | MEMBER02/2023 | Schedule BPDF page 61 |
| 11 | BLAIR ELLARD RICHARDSONOFFICER, DIRECTOR, SHAREHOLDERIndividual | BOW RIVER ASSET MANAGEMENT CORPORATION II | 25% to less than 50%Code C | Yes | OFFICER, DIRECTOR, SHAREHOLDER02/2023 | Schedule BPDF page 61 |
| 12 | RICHARDSON 2012 TRUSTSHAREHOLDERDomestic entity | BOW RIVER ASSET MANAGEMENT CORPORATION II | 25% to less than 50%Code C | Yes | SHAREHOLDER02/2023 | Schedule BPDF page 61 |
| 13 | DZMK ADVISORS, INC.TRUSTEEDomestic entity | RICHARDSON 2012 TRUST | Percentage not specifiedCode F | Yes | TRUSTEE02/2023 | Schedule BPDF page 61 |
| 14 | NEW YORK LIFE INSURANCE COMPANYINDIRECT INTEREST HOLDERDomestic entity | NEW YORK LIFE INVESTMENT MANAGEMENT HOLDINGS LLC | 75% or moreCode E | Yes | INDIRECT INTEREST HOLDER12/1999 | Schedule BPDF page 61 |
| 15 | BOW RIVER ASSET MANAGEMENT INTERMEDIATE LLCMEMBERDomestic entity | BOW RIVER ASSET MANAGEMENT, LLC | 75% or moreCode E | Yes | MEMBER08/2025 | Schedule BPDF page 61 |
Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.
Compliance & Disclosures
Filing dated 3/30/2026 10:33:14 AM
Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.
RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No
In the past ten years, have you or any advisory affiliate:
- A1Been convicted of or pleaded guilty or no contest to a felony?No
- A2Been charged with a felony?No
BMisdemeanors2 No
In the past ten years, have you or any advisory affiliate:
- B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
- B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No
Has the SEC or CFTC ever:
- C1Found you or an advisory affiliate made a false statement or omission?No
- C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
- C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
- C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
- C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions2 Yes3 No
Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:
- D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
- D2Found you or an advisory affiliate violated investment-related regulations or statutes?Yes
- D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
- D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?Yes
- D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No
Has a self-regulatory organization or commodities exchange ever:
- E1Found you or an advisory affiliate made a false statement or omission?No
- E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
- E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
- E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
- FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
- GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No
(1) Court actions
Has a domestic or foreign court:
- H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
- H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
- H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No
(2) Pending civil proceedings
- H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No
Additional DRP filings 8 source blocks
Verbatim excerpts from supporting DRP filings, which may concern the firm or advisory affiliates. Amounts retain their filed labels; no total or attribution is inferred.
regulatory · block 1NEW YORK LIFE INSURANCE COMPANY ("NYLIC")PDF pages 62–64
- Advisory affiliate name — filed text
- NEW YORK LIFE INSURANCE COMPANY ("NYLIC")
- Regulator name — filed text
- ILLINOIS DEPARTMENT OF INSURANCE
- Monetary/Fine Amount — filed text
- $ 26,450.00
- How was matter resolved — filed text
- Stipulation and Consent
Action status / disposition — filed text
THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NYLIC WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS.
Other filed details
Description of allegations — filed text
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NEW YORK LIFE INSURANCE COMPANY ("NYLIC") WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS.
Sanction detail — filed text
THE CIVIL FORFEITURE LEVIED AGAINST NYLIC (EAGLE'S CONTROLLING AFFILIATE) WAS IN THE AMOUNT OF $26,450 AND A CHECK WAS ISSUED, PAYABLE TO THE DIRECTOR OF INSURANCE, FOR THIS AMOUNT ON 12/16/2015. (ADV) NYLIC AND NYLIAC PAID A COMBINED FINE OF $26,450.00 TO THE ILLINOIS DEPARTMENT OF INSURANCE BY CHECK DATED 12/16/2015. (BD)
Full extracted filing text
Includes form instructions and options. Options shown in this text do not identify which boxes were selected.
GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name).
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is
a Firm
an Individual
Registered:
Yes
No
Name:
NEW YORK LIFE INSURANCE
COMPANY ("NYLIC")
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances:
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
Yes
No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1. Regulatory Action initiated by:
SEC
Other Federal
State
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
ILLINOIS DEPARTMENT OF INSURANCE
2.
Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:
INSTITUTE AND MAINTAIN SPECIFIC POLICIES AND PROCEDURES
3.
Date Initiated (MM/DD/YYYY):
12/07/2015
Exact
Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
66915
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types:
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT
HOLDING'S EQUITY INTEREST IN BRA, LLC. THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH
IDENTIFIED CERTAIN AREAS WHERE NEW YORK LIFE INSURANCE COMPANY ("NYLIC") WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE
REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL
PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS.
8.
Current Status?
Pending
On Appeal
Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Stipulation and Consent
11. Resolution Date (MM/DD/YYYY):
12/07/2015
Exact
Explanation
If not exact, provide explanation:
12. Resolution Detail:
A. Were any of the following Sanctions Ordered (check all appropriate items)?
Monetary/Fine Amount: $ 26,450.00
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions Ordered:
INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
THE CIVIL FORFEITURE LEVIED AGAINST NYLIC (EAGLE'S CONTROLLING AFFILIATE) WAS IN THE AMOUNT OF $26,450 AND A CHECK WAS ISSUED,
PAYABLE TO THE DIRECTOR OF INSURANCE, FOR THIS AMOUNT ON 12/16/2015. (ADV) NYLIC AND NYLIAC PAID A COMBINED FINE OF $26,450.00
TO THE ILLINOIS DEPARTMENT OF INSURANCE BY CHECK DATED 12/16/2015. (BD)
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NYLIC WAS NOT
IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT
ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS.regulatory · block 2NEW YORK LIFE INSURANCE COMPANYPDF pages 64–65
- Advisory affiliate name — filed text
- NEW YORK LIFE INSURANCE COMPANY
- Regulator name — filed text
- LOUISIANA DEPARTMENT OF INSURANCE
- Monetary/Fine Amount — filed text
- $ 100,000.00
- How was matter resolved — filed text
- Consent
Action status / disposition — filed text
NEW YORK LIFE AGREED TO A CONSENT ORDER FROM THE STATE AND PAID A FINE OF $100,000 RELATED TO USE OF FORMS IN THE STATE WHICH WERE NOT APPROVED BY OR DID NOT COMPLY WITH STATE REGULATIONS. IN ADDITION TO PAYING THE FINE OF $100,000 ON 12/22/2023, NYL IS ALSO AMENDING FORMS AND AGREEMENT AND RESUBMITTING THEM TO THE STATE TO COMPLY WITH THE APPROPRIATE REGULATIONS.
Other filed details
Description of allegations — filed text
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. NEW YORK LIFE INSURANCE COMPANY FAILED TO USE POLICY FORMS THAT WERE REVIEWED AND APPROVED BY THE STATE. IN ADDITION, CERTAIN FORMS DID NOT COMPLY WITH STATE REGULATIONS.
Sanction detail — filed text
NEW YORK LIFE AGREED TO A CONSENT ORDER FROM THE STATE AND PAID A FINE OF $100,000 RELATED TO USE OF FORMS IN THE STATE WHICH WERE NOT APPROVED BY OR DID NOT COMPLY WITH STATE REGULATIONS. IN ADDITION TO PAYING THE FINE OF $100,000 ON 12/22/2023, NYL IS ALSO AMENDING FORMS AND AGREEMENT AND RESUBMITTING THEM TO THE STATE TO COMPLY WITH THE APPROPRIATE REGULATIONS.
Full extracted filing text
Includes form instructions and options. Options shown in this text do not identify which boxes were selected.
GENERAL INSTRUCTIONS This Disclosure Reporting Page (DRP ADV) is an INITIAL OR AMENDED response used to report details for affirmative responses to Items 11.C., 11.D., 11.E., 11.F. or 11.G. of Form ADV. Regulatory Action Check item(s) being responded to: 11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5) 11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5) 11.E(1) 11.E(2) 11.E(3) 11.E(4) 11.F. 11.G. Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed Execution Page. One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP. PART I A. The person(s) or entity(ies) for whom this DRP is being filed is (are): You (the advisory firm) You and one or more of your advisory affiliates One or more of your advisory affiliates If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box. ADV DRP - ADVISORY AFFILIATE CRD Number: This advisory affiliate is a Firm an Individual Registered: Yes No Name: NEW YORK LIFE INSURANCE COMPANY (For individuals, Last, First, Middle) This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser. This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the adviser's or advisory affiliate's favor. If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any event listed in Item 11 that occurred more than ten years ago. This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances: B. If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided. Yes No NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records. PART II 1. Regulatory Action initiated by: SEC Other Federal State SRO Foreign (Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) LOUISIANA DEPARTMENT OF INSURANCE 2. Principal Sanction: Civil and Administrative Penalt(ies) /Fine(s) Other Sanctions: 3. Date Initiated (MM/DD/YYYY): 12/16/2023 Exact Explanation If not exact, provide explanation: 4. Docket/Case Number: 5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable): 6. Principal Product Type: Insurance Other Product Types: 7. Describe the allegations related to this regulatory action (your response must fit within the space provided): THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. NEW YORK LIFE INSURANCE COMPANY FAILED TO USE POLICY FORMS THAT WERE REVIEWED AND APPROVED BY THE STATE. IN ADDITION, CERTAIN FORMS DID NOT COMPLY WITH STATE REGULATIONS. 8. Current Status? Pending On Appeal Final 9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed: If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only. 10. How was matter resolved: Consent 11. Resolution Date (MM/DD/YYYY): 12/16/2023 Exact Explanation If not exact, provide explanation: 12. Resolution Detail: A. Were any of the following Sanctions Ordered (check all appropriate items)? Monetary/Fine Amount: $ 100,000.00 Revocation/Expulsion/Denial Disgorgement/Restitution Censure Cease and Desist/Injunction Bar Suspension B. Other Sanctions Ordered: Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal, Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution, disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion of penalty was waived: NEW YORK LIFE AGREED TO A CONSENT ORDER FROM THE STATE AND PAID A FINE OF $100,000 RELATED TO USE OF FORMS IN THE STATE WHICH WERE NOT APPROVED BY OR DID NOT COMPLY WITH STATE REGULATIONS. IN ADDITION TO PAYING THE FINE OF $100,000 ON 12/22/2023, NYL IS ALSO AMENDING FORMS AND AGREEMENT AND RESUBMITTING THEM TO THE STATE TO COMPLY WITH THE APPROPRIATE REGULATIONS. 13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the space provided). NEW YORK LIFE AGREED TO A CONSENT ORDER FROM THE STATE AND PAID A FINE OF $100,000 RELATED TO USE OF FORMS IN THE STATE WHICH WERE NOT APPROVED BY OR DID NOT COMPLY WITH STATE REGULATIONS. IN ADDITION TO PAYING THE FINE OF $100,000 ON 12/22/2023, NYL IS ALSO AMENDING FORMS AND AGREEMENT AND RESUBMITTING THEM TO THE STATE TO COMPLY WITH THE APPROPRIATE REGULATIONS.
regulatory · block 3NEW YORK LIFE INSURANCE COMPANYPDF pages 66–67
- Advisory affiliate name — filed text
- NEW YORK LIFE INSURANCE COMPANY
- Regulator name — filed text
- STATE OF CONNECTICUT INSURANCE DEPARTMENT
- Monetary/Fine Amount — filed text
- $ 1,000.00
- How was matter resolved — filed text
- Consent
Action status / disposition — filed text
NEW YORK LIFE INSURANCE COMPANY WAS FINED $1,000.00, WHICH WAS PAID TO THE STATE IN DECEMBER 2017.
Other filed details
Description of allegations — filed text
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. DURING THE COURSE OF A ROUTINE MARKET CONDUCT EXAM, THE STATE OF CONNECTICUT INSURANCE DEPARTMENT (THE STATE) FOUND NEW YORK LIFE INSURANCE COMPANY DID NOT TIMELY PAY LONG TERM CARE CLAIMS IN FOUR INSTANCES.
Sanction detail — filed text
NEW YORK LIFE INSURANCE COMPANY WAS FINED $1,000.00, WHICH WAS PAID TO THE STATE IN DECEMBER 2017.
Full extracted filing text
Includes form instructions and options. Options shown in this text do not identify which boxes were selected.
GENERAL INSTRUCTIONS This Disclosure Reporting Page (DRP ADV) is an INITIAL OR AMENDED response used to report details for affirmative responses to Items 11.C., 11.D., 11.E., 11.F. or 11.G. of Form ADV. Regulatory Action Check item(s) being responded to: 11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5) 11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5) 11.E(1) 11.E(2) 11.E(3) 11.E(4) 11.F. 11.G. Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed Execution Page. One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP. PART I A. The person(s) or entity(ies) for whom this DRP is being filed is (are): You (the advisory firm) You and one or more of your advisory affiliates One or more of your advisory affiliates If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box. ADV DRP - ADVISORY AFFILIATE CRD Number: This advisory affiliate is a Firm an Individual Registered: Yes No Name: NEW YORK LIFE INSURANCE COMPANY (For individuals, Last, First, Middle) This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser. This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the adviser's or advisory affiliate's favor. If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any event listed in Item 11 that occurred more than ten years ago. This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances: B. If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided. Yes No NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records. PART II 1. Regulatory Action initiated by: SEC Other Federal State SRO Foreign (Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) STATE OF CONNECTICUT INSURANCE DEPARTMENT 2. Principal Sanction: Civil and Administrative Penalt(ies) /Fine(s) Other Sanctions: 3. Date Initiated (MM/DD/YYYY): 01/24/2018 Exact Explanation If not exact, provide explanation: 4. Docket/Case Number: MC 17-47 5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable): 6. Principal Product Type: Insurance Other Product Types: 7. Describe the allegations related to this regulatory action (your response must fit within the space provided): THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. DURING THE COURSE OF A ROUTINE MARKET CONDUCT EXAM, THE STATE OF CONNECTICUT INSURANCE DEPARTMENT (THE STATE) FOUND NEW YORK LIFE INSURANCE COMPANY DID NOT TIMELY PAY LONG TERM CARE CLAIMS IN FOUR INSTANCES. 8. Current Status? Pending On Appeal Final 9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed: If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only. 10. How was matter resolved: Consent 11. Resolution Date (MM/DD/YYYY): 01/24/2018 Exact Explanation If not exact, provide explanation: 12. Resolution Detail: A. Were any of the following Sanctions Ordered (check all appropriate items)? Monetary/Fine Amount: $ 1,000.00 Revocation/Expulsion/Denial Disgorgement/Restitution Censure Cease and Desist/Injunction Bar Suspension B. Other Sanctions Ordered: Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal, Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution, disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion of penalty was waived: NEW YORK LIFE INSURANCE COMPANY WAS FINED $1,000.00, WHICH WAS PAID TO THE STATE IN DECEMBER 2017. 13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the space provided). NEW YORK LIFE INSURANCE COMPANY WAS FINED $1,000.00, WHICH WAS PAID TO THE STATE IN DECEMBER 2017.
regulatory · block 4NEW YORK LIFE INSURANCE COMPANYPDF pages 67–69
- Advisory affiliate name — filed text
- NEW YORK LIFE INSURANCE COMPANY
- Regulator name — filed text
- STATE OF NEW YORK DEPARTMENT OF FINANCIAL SERVICES
- Monetary/Fine Amount — filed text
- $ 732,067.00
- How was matter resolved — filed text
- Consent
Action status / disposition — filed text
THE FINDINGS BY THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES HAVE BEEN RESOLVED THROUGH A CONSENT ORDER.
Other filed details
Description of allegations — filed text
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. AS A RESULT OF A ROUTINE MARKET CONDUCT EXAMINATION OF THE AFFAIRS OF NEW YORK LIFE INSURANCE COMPANY FOR THE PERIOD FROM JANUARY 1, 2005-DECEMBER 31, 2009, THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES FOUND THAT NEW YORK LIFE VIOLATED SECTION 53-3.5(A), 53-3.2(A)(2) AND 533.6(B) OF DEPARTMENT REGULATION NO. 74 AS WELL AS NEW YORK INSURANCE LAW SECTION 3201(B)(1).
Sanction detail — filed text
IN OCTOBER 2016, NEW YORK LIFE PAID A CIVIL PENALTY OF $732,067.00.
Full extracted filing text
Includes form instructions and options. Options shown in this text do not identify which boxes were selected.
GENERAL INSTRUCTIONS This Disclosure Reporting Page (DRP ADV) is an INITIAL OR AMENDED response used to report details for affirmative responses to Items 11.C., 11.D., 11.E., 11.F. or 11.G. of Form ADV. Regulatory Action Check item(s) being responded to: 11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5) 11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5) 11.E(1) 11.E(2) 11.E(3) 11.E(4) 11.F. 11.G. Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed Execution Page. One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP. PART I A. The person(s) or entity(ies) for whom this DRP is being filed is (are): You (the advisory firm) You and one or more of your advisory affiliates One or more of your advisory affiliates If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box. ADV DRP - ADVISORY AFFILIATE CRD Number: This advisory affiliate is a Firm an Individual Registered: Yes No Name: NEW YORK LIFE INSURANCE COMPANY (For individuals, Last, First, Middle) This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser. This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the adviser's or advisory affiliate's favor. If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any event listed in Item 11 that occurred more than ten years ago. This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances: B. If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided. Yes No NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records. PART II 1. Regulatory Action initiated by: SEC Other Federal State SRO Foreign (Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) STATE OF NEW YORK DEPARTMENT OF FINANCIAL SERVICES 2. Principal Sanction: Civil and Administrative Penalt(ies) /Fine(s) Other Sanctions: 3. Date Initiated (MM/DD/YYYY): 10/31/2016 Exact Explanation If not exact, provide explanation: 4. Docket/Case Number: 2016-0001-A 5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable): 6. Principal Product Type: Insurance Other Product Types: yp 7. Describe the allegations related to this regulatory action (your response must fit within the space provided): THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. AS A RESULT OF A ROUTINE MARKET CONDUCT EXAMINATION OF THE AFFAIRS OF NEW YORK LIFE INSURANCE COMPANY FOR THE PERIOD FROM JANUARY 1, 2005-DECEMBER 31, 2009, THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES FOUND THAT NEW YORK LIFE VIOLATED SECTION 53-3.5(A), 53-3.2(A)(2) AND 533.6(B) OF DEPARTMENT REGULATION NO. 74 AS WELL AS NEW YORK INSURANCE LAW SECTION 3201(B)(1). 8. Current Status? Pending On Appeal Final 9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed: If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only. 10. How was matter resolved: Consent 11. Resolution Date (MM/DD/YYYY): 10/31/2016 Exact Explanation If not exact, provide explanation: 12. Resolution Detail: A. Were any of the following Sanctions Ordered (check all appropriate items)? Monetary/Fine Amount: $ 732,067.00 Revocation/Expulsion/Denial Disgorgement/Restitution Censure Cease and Desist/Injunction Bar Suspension B. Other Sanctions Ordered: Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal, Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution, disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion of penalty was waived: IN OCTOBER 2016, NEW YORK LIFE PAID A CIVIL PENALTY OF $732,067.00. 13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the space provided). THE FINDINGS BY THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES HAVE BEEN RESOLVED THROUGH A CONSENT ORDER.
regulatory · block 5NEW YORK LIFE INSURANCE COMPANYPDF pages 69–71
- Advisory affiliate name — filed text
- NEW YORK LIFE INSURANCE COMPANY
- Regulator name — filed text
- OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND FINANCE
- Monetary/Fine Amount — filed text
- $ 10,000.00
- How was matter resolved — filed text
- Stipulation and Consent
Action status / disposition — filed text
MONETARY FINE: $10,000 THE MARCH 23, 2021 CONSENT AGREEMENT RESOLVES THE ALLEGATIONS AGAINST NYL AND WAS ENTERED WITHOUT ADJUDICATION OF ANY ISSUE, LAW OR FACT.
Other filed details
Description of allegations — filed text
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. THE OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND INSURANCE ("CSI") FOUND THAT SINCE 2015 NEW YORK LIFE INSURANCE COMPANY AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (COLLECTIVELY, "NYL") USED GROUP LIFE INSURANCE AND GROUP ANNUITY FORMS THAT HAD NOT BEEN APPROVED BY THE CSI, PROVIDED COVERAGE UNDER SUCH FORMS TO MONTANA RESIDENTS AND DID NOT SUBMIT THE FORMS FOR APPROVAL AS REQUIRED UNDER MONTANA LAW.
Sanction detail — filed text
THE OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND INSURANCE ("CSI") FOUND THAT SINCE 2015 NEW YORK LIFE INSURANCE COMPANY AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (COLLECTIVELY, "NYL") USED GROUP LIFE INSURANCE AND GROUP ANNUITY FORMS THAT HAD NOT BEEN APPROVED BY THE CSI, PROVIDED COVERAGE UNDER SUCH FORMS TO MONTANA RESIDENTS AND DID NOT SUBMIT THE FORMS FOR APPROVAL AS REQUIRED UNDER MONTANA LAW. MONETARY FINE: $10,000 THE MARCH 23, 2021 CONSENT AGREEMENT RESOLVES THE ALLEGATIONS AGAINST NYL AND WAS ENTERED WITHOUT ADJUDICATION OF ANY ISSUE, LAW OR FACT.
Full extracted filing text
Includes form instructions and options. Options shown in this text do not identify which boxes were selected.
GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name).
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is
a Firm
an Individual
Registered:
Yes
No
Name:
NEW YORK LIFE INSURANCE
COMPANY
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances:
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
Yes
No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1. Regulatory Action initiated by:
SEC
Other Federal
State
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND FINANCE
2.
Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:
3.
Date Initiated (MM/DD/YYYY):
03/23/2021
Exact
Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
INS 2018-275
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types:
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT
HOLDING'S EQUITY INTEREST IN BRA, LLC. THE OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND INSURANCE ("CSI")
FOUND THAT SINCE 2015 NEW YORK LIFE INSURANCE COMPANY AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (COLLECTIVELY, "NYL")
USED GROUP LIFE INSURANCE AND GROUP ANNUITY FORMS THAT HAD NOT BEEN APPROVED BY THE CSI, PROVIDED COVERAGE UNDER SUCH FORMS
TO MONTANA RESIDENTS AND DID NOT SUBMIT THE FORMS FOR APPROVAL AS REQUIRED UNDER MONTANA LAW.
8.
Current Status?
Pending
On Appeal
Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Stipulation and Consent
11. Resolution Date (MM/DD/YYYY):
03/23/2021
Exact
Explanation
If not exact, provide explanation:
12. Resolution Detail:
A. Were any of the following Sanctions Ordered (check all appropriate items)?
Monetary/Fine Amount: $ 10,000.00
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
THE OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND INSURANCE ("CSI") FOUND THAT SINCE 2015 NEW YORK LIFE
INSURANCE COMPANY AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (COLLECTIVELY, "NYL") USED GROUP LIFE INSURANCE AND
GROUP ANNUITY FORMS THAT HAD NOT BEEN APPROVED BY THE CSI, PROVIDED COVERAGE UNDER SUCH FORMS TO MONTANA RESIDENTS AND
DID NOT SUBMIT THE FORMS FOR APPROVAL AS REQUIRED UNDER MONTANA LAW. MONETARY FINE: $10,000 THE MARCH 23, 2021 CONSENT
AGREEMENT RESOLVES THE ALLEGATIONS AGAINST NYL AND WAS ENTERED WITHOUT ADJUDICATION OF ANY ISSUE, LAW OR FACT.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
MONETARY FINE: $10,000 THE MARCH 23, 2021 CONSENT AGREEMENT RESOLVES THE ALLEGATIONS AGAINST NYL AND WAS ENTERED WITHOUT
ADJUDICATION OF ANY ISSUE, LAW OR FACT.regulatory · block 6NEW YORK LIFE INSURANCE COMPANYPDF pages 71–73
- Advisory affiliate name — filed text
- NEW YORK LIFE INSURANCE COMPANY
- Regulator name — filed text
- KENTUCKY DEPARTMENT OF INSURANCE
- Monetary/Fine Amount — filed text
- $ 112,000.00
- How was matter resolved — filed text
- Order
Action status / disposition — filed text
MONETARY FINE: $112,000
Other filed details
Description of allegations — filed text
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. ON OCTOBER 4, 2021 NEW YORK LIFE INSURANCE COMPANY ("NYLIC") RECEIVED AN ORDER OF CIVIL PENALTY AND ADOPTION OF A CORRECTIVE ACTION PLAN FROM THE KENTUCKY DEPARTMENT OF INSURANCE ALLEGING THAT NYLIC INCORRECTLY IMPLEMENTED PREMIUM RATE INCREASES ON 112 INDIVIDUAL LONG TERM CARE CONTRACTS IN VIOLATION OF KENTUCKY INSURANCE LAW.
Sanction detail — filed text
ON OCTOBER 4, 2021 NEW YORK LIFE INSURANCE COMPANY ("NYLIC") RECEIVED AN ORDER OF CIVIL PENALTY AND ADOPTION OF A CORRECTIVE ACTION PLAN FROM THE KENTUCKY DEPARTMENT OF INSURANCE ALLEGING THAT NYLIC INCORRECTLY IMPLEMENTED PREMIUM RATE INCREASES ON 112 INDIVIDUAL LONG TERM CARE CONTRACTS IN VIOLATION OF KENTUCKY INSURANCE LAW. MONETARY FINE: $112,000
Full extracted filing text
Includes form instructions and options. Options shown in this text do not identify which boxes were selected.
GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name).
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is
a Firm
an Individual
Registered:
Yes
No
Name:
NEW YORK LIFE INSURANCE
COMPANY
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances:
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
Yes
No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1. Regulatory Action initiated by:
SEC
Other Federal
State
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
KENTUCKY DEPARTMENT OF INSURANCE
2.
Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:
3.
Date Initiated (MM/DD/YYYY):
10/04/2021
Exact
Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
2021SCM066
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types:
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT
HOLDING'S EQUITY INTEREST IN BRA, LLC. ON OCTOBER 4, 2021 NEW YORK LIFE INSURANCE COMPANY ("NYLIC") RECEIVED AN ORDER OF CIVIL
PENALTY AND ADOPTION OF A CORRECTIVE ACTION PLAN FROM THE KENTUCKY DEPARTMENT OF INSURANCE ALLEGING THAT NYLIC INCORRECTLY
IMPLEMENTED PREMIUM RATE INCREASES ON 112 INDIVIDUAL LONG TERM CARE CONTRACTS IN VIOLATION OF KENTUCKY INSURANCE LAW.
8.
Current Status?
Pending
On Appeal
Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Order
11. Resolution Date (MM/DD/YYYY):
10/20/2021
Exact
Explanation
If not exact, provide explanation:
12. Resolution Detail:
A. Were any of the following Sanctions Ordered (check all appropriate items)?
Monetary/Fine Amount: $ 112,000.00
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
ON OCTOBER 4, 2021 NEW YORK LIFE INSURANCE COMPANY ("NYLIC") RECEIVED AN ORDER OF CIVIL PENALTY AND ADOPTION OF A
CORRECTIVE ACTION PLAN FROM THE KENTUCKY DEPARTMENT OF INSURANCE ALLEGING THAT NYLIC INCORRECTLY IMPLEMENTED PREMIUM
RATE INCREASES ON 112 INDIVIDUAL LONG TERM CARE CONTRACTS IN VIOLATION OF KENTUCKY INSURANCE LAW. MONETARY FINE: $112,000
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
MONETARY FINE: $112,000Show 2 more source blocks
regulatory · block 7NEW YORK LIFE GROUP INSURANCE COMPANY OF NEW YORKPDF pages 73–75
- Advisory affiliate name — filed text
- NEW YORK LIFE GROUP INSURANCE COMPANY OF NEW YORK
- Regulator name — filed text
- MISSOURI DEPARTMENT OF COMMERCE AND INSURANCE
- Monetary/Fine Amount — filed text
- $ 13,000.00
- How was matter resolved — filed text
- Other
Action status / disposition — filed text
IN APRIL 2024 NEW YORK LIFE INSURANCE COMPANY PAID A CIVIL PENALITY IN THE AMOUNT OF $13000 TO THE MISSOURI DEPARTMENT OF COMMENCE AND INSURANCE.
Other filed details
Description of allegations — filed text
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDINGS' EQUITY INTERESTS IN BRA, LLC. NEW YORK LIFE GROUP INSURANCE COMPANY OF NEW YORK AND THE PREDECESSOR COMPANY FILED FORMS AND PROVIDED DATA TO THE STATE FROM 2018 TO 2022 THAT CONTAINED INACCURACIES.
Sanction detail — filed text
NYLIC PAID 13000 TO THE STATE OF MISSOURI ON APRIL 19, 2024.
Full extracted filing text
Includes form instructions and options. Options shown in this text do not identify which boxes were selected.
GENERAL INSTRUCTIONS This Disclosure Reporting Page (DRP ADV) is an INITIAL OR AMENDED response used to report details for affirmative responses to Items 11.C., 11.D., 11.E., 11.F. or 11.G. of Form ADV. Regulatory Action Check item(s) being responded to: 11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5) 11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5) 11.E(1) 11.E(2) 11.E(3) 11.E(4) 11.F. 11.G. Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed Execution Page. One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP. PART I A. The person(s) or entity(ies) for whom this DRP is being filed is (are): You (the advisory firm) You and one or more of your advisory affiliates One or more of your advisory affiliates If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box. ADV DRP - ADVISORY AFFILIATE CRD Number: This advisory affiliate is a Firm an Individual Registered: Yes No Name: NEW YORK LIFE GROUP INSURANCE COMPANY OF NEW YORK (For individuals, Last, First, Middle) This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser. This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the adviser's or advisory affiliate's favor. If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any event listed in Item 11 that occurred more than ten years ago. This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances: B. If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided. Yes No NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records. PART II 1. Regulatory Action initiated by: SEC Other Federal State SRO Foreign (Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) MISSOURI DEPARTMENT OF COMMERCE AND INSURANCE 2. Principal Sanction: Civil and Administrative Penalt(ies) /Fine(s) Other Sanctions: 3. Date Initiated (MM/DD/YYYY): 04/19/2024 Exact Explanation If not exact, provide explanation: 4. Docket/Case Number: 390226 5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable): NEW YORK LIFE INSURANCE COMPANY 6. Principal Product Type: Insurance Other Product Types: 7. Describe the allegations related to this regulatory action (your response must fit within the space provided): THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDINGS' EQUITY INTERESTS IN BRA, LLC. NEW YORK LIFE GROUP INSURANCE COMPANY OF NEW YORK AND THE PREDECESSOR COMPANY FILED FORMS AND PROVIDED DATA TO THE STATE FROM 2018 TO 2022 THAT CONTAINED INACCURACIES. 8. Current Status? Pending On Appeal Final 9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed: If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only. 10. How was matter resolved: Other 11. Resolution Date (MM/DD/YYYY): 04/19/2024 Exact Explanation If not exact, provide explanation: NEW YORK LIFE AGREES TO PAY THE $13,000 FORFEITURE AND TO TAKE REMEDIAL ACTION BRINGING IT INTO COMPLIANCE WITH THE STATUTES AND REGULATIONS OF MISSOURI AND AGREES TO MAINTAIN THOSE REMEDIAL ACTIONS AT ALL TIMES. 12. Resolution Detail: A. Were any of the following Sanctions Ordered (check all appropriate items)? Monetary/Fine Amount: $ 13,000.00 Revocation/Expulsion/Denial Disgorgement/Restitution Censure Cease and Desist/Injunction Bar Suspension B. Other Sanctions Ordered: Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal, Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution, disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion of penalty was waived: NYLIC PAID 13000 TO THE STATE OF MISSOURI ON APRIL 19, 2024. 13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the space provided). IN APRIL 2024 NEW YORK LIFE INSURANCE COMPANY PAID A CIVIL PENALITY IN THE AMOUNT OF $13000 TO THE MISSOURI DEPARTMENT OF COMMENCE AND INSURANCE.
regulatory · block 8NEW YORK LIFE INSURANCE COMPANYPDF pages 75–77
- Advisory affiliate name — filed text
- NEW YORK LIFE INSURANCE COMPANY
- Regulator name — filed text
- STATE OF CONNECTICUT INSURANCE DEPARTMENT
- Monetary/Fine Amount — filed text
- $ 14,000.00
- How was matter resolved — filed text
- Stipulation and Consent
Action status / disposition — filed text
MONETARY FINE OF $14,000.
Other filed details
Description of allegations — filed text
THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. PURSUANT TO A MARKET CONDUCT EXAMINATION BY THE STATE OF CONNECTICUT INSURANCE DEPARTMENT, STIPULATION AND FINAL ORDER, DATED 08/07/2025, NEW YORK LIFE INSURANCE COMPANY WAS FOUND TO HAVE VIOLATED SECTION 38A-816 OF THE CONNECTICUT GENERAL STATUTES AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION WAS FOUND TO HAVE VIOLATED SECTION 38A-702M OF THE CONNECTICUT GENERAL STATUTES.
Sanction detail — filed text
NYLIC PAID A $2,000 FINE FOR FAILING TO PAY CLAIMS AND INTEREST ON CLAIMS IN A TIMELY MANNER, IN VIOLATION OF CONNECTICUT STATUTORY REQUIREMENTS. NYLIAC PAID A $12,000 FINE FOR PERMITTING EIGHT (8) PRODUCERS TO ACT AS AGENTS IN CONNECTICUT WITHOUT THE REQUIRED APPOINTMENT. BOTH MATTERS WERE RESOLVED VIA STIPULATION AND CONSENT ORDERS DATED AUGUST 7, 2025, AND NO FORMAL HEARINGS WERE HELD.
Full extracted filing text
Includes form instructions and options. Options shown in this text do not identify which boxes were selected.
GENERAL INSTRUCTIONS This Disclosure Reporting Page (DRP ADV) is an INITIAL OR AMENDED response used to report details for affirmative responses to Items 11.C., 11.D., 11.E., 11.F. or 11.G. of Form ADV. Regulatory Action Check item(s) being responded to: 11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5) 11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5) 11.E(1) 11.E(2) 11.E(3) 11.E(4) 11.F. 11.G. Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed Execution Page. One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP. PART I A. The person(s) or entity(ies) for whom this DRP is being filed is (are): You (the advisory firm) You and one or more of your advisory affiliates One or more of your advisory affiliates If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box. ADV DRP - ADVISORY AFFILIATE CRD Number: This advisory affiliate is a Firm an Individual Registered: Yes No Name: NEW YORK LIFE INSURANCE COMPANY (For individuals, Last, First, Middle) This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser. This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the adviser's or advisory affiliate's favor. If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any event listed in Item 11 that occurred more than ten years ago. This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances: B. If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided. Yes No NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records. PART II 1. Regulatory Action initiated by: SEC Other Federal State SRO Foreign (Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) STATE OF CONNECTICUT INSURANCE DEPARTMENT 2. Principal Sanction: Civil and Administrative Penalt(ies) /Fine(s) Other Sanctions: 3. Date Initiated (MM/DD/YYYY): 08/07/2025 Exact Explanation If not exact, provide explanation: 4. Docket/Case Number: MC 25-65; MC 25-82 5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable): 6. Principal Product Type: Insurance Other Product Types: 7. Describe the allegations related to this regulatory action (your response must fit within the space provided): THE FOLLOWING DISCLOSURE IS ONLY RELEVANT DUE TO AN ADVISORY AFFILIATION BY VIRTUE OF NEW YORK LIFE INVESTMENT MANAGEMENT HOLDING'S EQUITY INTEREST IN BRA, LLC. PURSUANT TO A MARKET CONDUCT EXAMINATION BY THE STATE OF CONNECTICUT INSURANCE DEPARTMENT, STIPULATION AND FINAL ORDER, DATED 08/07/2025, NEW YORK LIFE INSURANCE COMPANY WAS FOUND TO HAVE VIOLATED SECTION 38A-816 OF THE CONNECTICUT GENERAL STATUTES AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION WAS FOUND TO HAVE VIOLATED SECTION 38A-702M OF THE CONNECTICUT GENERAL STATUTES. 8. Current Status? Pending On Appeal Final 9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed: If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only. 10. How was matter resolved: Stipulation and Consent 11. Resolution Date (MM/DD/YYYY): 08/07/2025 Exact Explanation If not exact, provide explanation: 12. Resolution Detail: A. Were any of the following Sanctions Ordered (check all appropriate items)? Monetary/Fine Amount: $ 14,000.00 Revocation/Expulsion/Denial Disgorgement/Restitution Censure Cease and Desist/Injunction Bar Suspension B. Other Sanctions Ordered: Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal, Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution, disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion of penalty was waived: NYLIC PAID A $2,000 FINE FOR FAILING TO PAY CLAIMS AND INTEREST ON CLAIMS IN A TIMELY MANNER, IN VIOLATION OF CONNECTICUT STATUTORY REQUIREMENTS. NYLIAC PAID A $12,000 FINE FOR PERMITTING EIGHT (8) PRODUCERS TO ACT AS AGENTS IN CONNECTICUT WITHOUT THE REQUIRED APPOINTMENT. BOTH MATTERS WERE RESOLVED VIA STIPULATION AND CONSENT ORDERS DATED AUGUST 7, 2025, AND NO FORMAL HEARINGS WERE HELD. 13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the space provided). MONETARY FINE OF $14,000.
* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.