Securities Lawyers Blog
The securities lawyers at Gana Weinstein LLP represent investors who have been mistreated by their brokers and suffered investment losses. Our firm is experienced in bringing claims against brokerage firms, such as Tiaa-Cref Individual & Institutional Services, LLC, to hold Wall Street responsible for their misconduct. When a client contacts our firm they can expect that our attorneys will have the knowledge and ability to evaluate the potential claims and analyze their trading activity for red flags of misconduct. Our consultations are designed to help provide clients with all available options.
TIAA-CREF Individual & Institutional Services, LLC is the TIAA broker-dealer and investment adviser that provides brokerage and managed account services to individuals and acts as principal underwriter and distributor of TIAA variable annuity and variable universal life products. Based in New York, the firm is a wholly owned subsidiary of Teachers Insurance and Annuity Association of America and clears its brokerage business through Pershing LLC.
Tiaa-Cref Individual & Institutional Services, LLC – By the Numbers:
- CRD #: 20472
- Regulatory Events: 8
- Arbitration Events: 4
- Broker Employees: 3,202
Tiaa-Cref Individual & Institutional Services, LLC – Investment Advisors:
- SEC #: 63550
- Assets Under Management: $37,928,601,788
- ADV Form Employee: 1,293
Tiaa-Cref Individual & Institutional Services, LLC – In the News:
FINRA v. Tiaa-Cref Individual & Institutional Services, LLC (Case #2022073326001) – From August 2018 to September 2022, TC Services failed to report promptly written customer complaints involving allegations of theft or misappropriation of funds or securities. During the same period, TC Services also failed to report settled matters where the firm was the subject of a claim for damages by a customer relating to the provision of financial services or a financial transaction and the settlement amount exceeded $25,000. During the same period, TC Services also failed to establish and maintain a supervisory system, including written supervisory procedures, that were reasonably designed to achieve compliance with FINRA reporting rules. As a result, TC Services violated FINRA Rules 4530(a)(1)(B) and (G), 3110 and 2010.
FINRA v. Tiaa-Cref Individual & Institutional Services, LLC (Case #2016049779401) – Between 2004 and 2015, as a result of technological errors and in one case an ambiguous clause in a vendor agreement, TC Services did not make timely delivery of customer confirmations for certain types of transactions. In addition, before August 2016 the firm delivered confirmations for certain transactions that did not explicitly denote the firm’s capacity as agent. Although the affected transactions represented a very small percentage of the firm’s overall transactions during the relevant period, in the aggregate they numbered in the millions. TC Services violated Securities Exchange Act Rule 10b-10, NASD Rules 2230 and 2110, and FINRA Rules 2232 and 2010.
Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.