Who is gwfs equities?
The Securities and Exchange Commission said Wednesday it has settled charges against GWFS Equities Inc., a Greenwood Village-based registered broker-dealer and affiliate of Empower Retirement, for not properly reporting attempts to hack into individual retirement accounts over a three-year period.
Who is Great-West funds?
Great-West Funds, Inc. (Great-West Funds) is an open-end investment company that has been in existence for over 30 years. We offer more than 50 mutual funds covering a broad spectrum of asset classes, investment styles and strategies.
What does the SEC’s order on gwfs mean for You?
The SEC’s order notes that significant cooperation by GWFS with the SEC’s investigation and subsequent remedial efforts were taken into account in the determination to accept the company’s settlement offer.
What was the settlement with the SEC for gwfs?
The SEC’s order finds that GWFS violated Section 17 (a) of the Securities Exchange Act and Rule 17a-8 thereunder. Without admitting or denying the SEC’s findings, GWFS agreed to a settlement that imposes a $1.5 million penalty, a censure, and an order to cease and desist from future violations.
What is Gwfs?
GWFS Equities, Inc. provides investment banking services. The Company offers insurance, annuities, assets management, records keeping, and financial information services. GWFS Equities conducts its business in the United States.
What is the Great West portfolio fund?
Great-West Funds, Inc. (Great-West Funds) is an open-end investment company that has been in existence for over 30 years. We offer more than 50 mutual funds covering a broad spectrum of asset classes, investment styles and strategies.
Is empower retirement a brokerage?
The Empower Brokerage IRA is intended for knowledgeable investors who acknowledge and understand the risks associated with the investments available through an Empower Brokerage account. The Empower Brokerage IRA option includes: On-demand access to accounts, positions and balances.
How do I contact Empower Retirement?
(800) 695-4952 following numbers below.
Who owns Great-West Life & Annuity Insurance Company?
Great-West LifecoGREAT WEST LIFE & ANNUITY INSURANCE CO / Parent organization(Great-West Lifeco). The business sold is in the United States and the transaction does not affect the life insurance businesses conducted in Canada or elsewhere by Great-West Lifeco. Headquartered in Birmingham, Ala., Protective is a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750).
What is a key guaranteed portfolio fund?
The Key Guaranteed Portfolio Fund (KGPF) is a general account product of Great-West Life & Annuity Insurance Company (GWL&A). Because the KGPF is a general account product offered through a group annuity contract, participant principal and interest are fully guaranteed by the entire general account assets of GWL&A.
Who is the largest retirement plan provider in the US?
Paychex, Inc.2020 TOP PROVIDERS (RECORDKEEPERS)By Total Defined Contribution Plans1Paychex, Inc.17,6932ADP Retirement Services9,1123American Funds6,9864Ascensus6,3826 more rows
Is Empower Retirement any good?
Empower Retirement has an overall Product Quality score of 1.8 out of 5 stars rated by its users and customers.
What company owns Empower Retirement?
Great‑West LifecoGREAT WEST LIFE & ANNUIT...Empower Retirement/Parent organizationsPart of Great-West Life & Annuity Insurance Company, Empower Retirement is an indirect wholly owned subsidiary of Great-West Lifeco.
Can I cash out my Empower retirement?
You may make withdrawals without penalty from your traditional IRA after you reach age 59½. Your taxable distribution is subject to ordinary income tax, including applicable federal, state and local tax, in the year you take the withdrawal(s).
What happens to 401k when you quit?
It can be tempting to withdraw all the money in your 401(k) plan each time you change jobs, but this is generally a poor financial decision. Withdrawals from 401(k)s before age 55 are typically subject to income tax and a 10% early withdrawal penalty, which will easily eliminate a large chunk of your savings.
Why did I receive a check from Empower retirement?
Empower's experience in general Uncashed checks occur almost exclusively in situations where either a participant has neither requested nor consented to a distribution, or the check represents trailing funds after the bulk of the account has been paid out (Unrequested Funds).
Is a stable value fund a money market fund?
A stable value fund is inherently as safe an investment as a money market fund. Historically, such funds provide a slightly higher rate of return than money market funds.
Do stable value funds have tickers?
The Stable Value investment option allocates money to the PIMCO Interest Income Fund. It aims to provide a stable return while preserving capital. The ticker symbol for this option is UTSSVX.
What is GWFS retirement?
GWFS provides services to employer-sponsored retirement plans. According to the SEC’s order, from September 2015 through October 2018, GWFS was aware of increasing attempts by external bad actors to gain access to the retirement accounts of individual plan participants.
What information did GWFS not include?
Further, for nearly 300 SARs that GWFS did file, the order finds that GWFS did not include the “five essential elements” of information it knew and was required to report about the suspicious activity and suspicious actors, including cyber-related data such as URL addresses and IP addresses.
What was the SEC's order to accept GWFS settlement offer?
The SEC’s order notes that significant cooperation by GWFS with the SEC’s investigation and subsequent remedial efforts were taken into account in the determination to accept the company’s settlement offer. The remedial efforts included adding dedicated anti-money laundering (AML) staff and systems, replacing key personnel, clarifying delegation of responsibility for filing SARs, and implementing new SAR-related policies, procedures, standards, and training.
What is the penalty for GWFS?
Without admitting or denying the SEC’s findings, GWFS agreed to a settlement that imposes a $1.5 million penalty, a censure, and an order to cease and desist from future violations.
How many SARs did GWFS fail to file?
The order finds that GWFS failed to file approximately 130 SARs, including in cases when it had detected external bad actors gaining, or attempting to gain, access to the retirement accounts of participants in the employer-sponsored retirement plans it serviced. Further, for nearly 300 SARs that GWFS did file, the order finds ...
Who is GWFS Equities?
The Securities and Exchange Commission said Wednesday it has settled charges against GWFS Equities Inc., a Greenwood Village-based registered broker-dealer and affiliate of Empower Retirement, for not properly reporting attempts to hack into individual retirement accounts over a three-year period.
When did GWFS get unauthorized access?
Between September 2015 and October 2018, GWFS saw repeated attempts to gain unauthorized access to the retirement accounts of individual retirement plan participants, the SEC said. The hackers often had improperly acquired personal identifying information, in some cases the electronic login information, including user names, email addresses and passwords.
How many suspicious activity reports did GWFS file?
As part of the settlement, regulators fined the subsidiary of the retirement plan services giant $1.5 million and censured it for failing to file approximately 130 Suspicious Activity Reports, or SARs, on attempts, some successful, to illegally gain access to retirement plan accounts. Of the nearly 300 reports GWFS did file, some lacked the cyber information needed to help authorities track down the fraudsters, the SEC said.
Did GWFS file a report?
The SEC found that GWFS failed to file approximately 130 of the required reports and that of the nearly 300 SARs it did file, essential information was left out, including the URL and IP addresses that authorities needed to track down where the hacking attempts were originating.
What is GlobalFoundries Inc?
GlobalFoundries Inc. (Nasdaq: GFS), a semiconductor manufacturer, and Ford Motor Co. (NYSE: F) have announced a strategic collaboration to advance semiconductor manufacturing and technology development within the U.S., aiming to boost chip supplies for Ford and the U.S. automotive industry. According to a news release, the companies have signed a non-binding agreement that opens the door for GF to create further semiconductor supply for Ford’s current vehicle lineup and joint research and development to address the growing demand for feature-rich chips to support the automotive industry.
Does GlobalFoundries Inc. (GFS) Have the Potential to Rally 61% as Wall Street Analysts Expect?
The consensus price target hints at a 61.4% upside potential for GlobalFoundries Inc. (GFS). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.