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Violation Tracker Individual Record

Company: ING Life Insurance and Annuity Co.
Current Parent CompanyVoya Financial
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Penalty: $5,200,000
Year: 2013
Date: February 4, 2013
Offense Group: employment-related offenses
Primary Offense: benefit plan administrator violation
Violation Description: The U.S. Department of Labor announced a settlement agreement with ING Life Insurance and Annuity Co. that provided for a $5.2 million payment to certain retirement plan clients adversely affected by its undisclosed practice of keeping investment gains achieved when the company failed to process requested transactions in a timely manner.
Level of Government: federal
Action Type: agency action
Agency: Employee Benefits Security Administration
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.