Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Investors Union, LLC
Penalty: $279,000
Year: 2014
Date: October 6, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Respondents engaged in unfair practices resulting from mass mailing solicitations that informed consumers that they may have annuities that reached the end of their surrender period, when in fact, the producers had no reason to believe that the consumers' annuities were about to expire or that the consumers even owned annuities; engaged in the business of insurance in New Jersey without a current producer license; failed to timely inform the Department of administrative actions taken in other states with regard to the producers' mass mailings solicitations; and provided a materially misleading, untrue and incomplete statement on the application for licensure of Investors Union.
Level of Government: state
Action Type: agency action
Agency: New Jersey Department of Banking & Insurance
Civil or Criminal Case: civil
Facility State: New Jersey
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.