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Our law firm is investigating TransAmerica Financial Advisors (“ TFA”) in connection with the supervision of Steven R. Rosh (“Rosh”), CRD No. 2962763. On October 27, 2014, FINRA and Rosh entered into a Letter of Acceptance, Waiver and Consent (“AWC”), wherein Rosh consented to be suspended from associating with any FINRA-regulated entity in any capacity for 60 days, and to pay a $7,500 fine, in connection with “engaging in three outside businesses without first providing written notice to TFA.”
According to the AWC, “between February 2011 and March 2013…, Rosh violated FINRA Rules 3270 and 2010, while associated with TFA, by engaging in three outside businesses without first providing written notice to TFA.” These outside businesses included Commercial Loan Funding, LLC, Investors Equity Trust, LLC, and Institutes of Long Life, LLC and Global Institute of Longevity, LLC. The AWC further states that “Rosh loaned $145,462.61 to AB, a financial entity, without obtaining prior written authorization from TFA. On June 15, 2012, in consideration of he loan, Rosh was assigned a mortgage for a property located in West Chester Township, Butler County, Ohio. Rosh also received a promissory note from MNM, AB’s owner, promising that he would repay Rosh’s principal with 15% annual interest. The note from MNM was a security. As such, Rosh was required to provide written notice of the transaction to TFA before engaging in it. Rosh failed to provide written notice to TFA of the transaction with AB.”
If you have information relating to this investigation, please contact us, toll free, at 888-997-9956.