Voya Retirement Advisors, Llc

Allegations: ALLEGATIONS THAT THE FIRM AND FOUR CONTROL AFFILIATES (DIRECTED SERVICES, LLC, ING AMERICA EQUITIES, INC., ING FINANCIAL ADVISERS, LLC, AND ING FINANCIAL PARTNERS, INC.), COLLECTIVELY KNOWN AS ("RESPONDENT FIRMS"), WERE INVOLVED IN VIOLATIONS OF THE SUPERVISION AND EMAIL RETENTION REQUIREMENTS OF FINRA RULES AND FEDERAL SECURITIES LAWS OVER AN EXTENDED PERIOD OF TIME. Status: Final Sanction Detail: WITHOUT ADMITTING OR DENYING FINRA'S FINDINGS, THE RESPONDENT FIRMS CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS BY AGREEING TO A LETTER OF ACCEPTANCE, WAIVER AND CONSENT ("AWC") WITH FINRA. THE RESPONDENT FIRMS WERE CENSURED AND FINED IN THE AGGREGATE AMOUNT OF $1.2 MILLION, OF WHICH IIA WAS RESPONSIBLE FOR $254,621.85. IN THE AWC, FINRA ACKNOWLEDGED THAT THE RESPONDENT FIRMS SELF-REPORTED THE EMAIL ISSUES DESCRIBED HEREIN AND UNDERTOOK AN INTERNAL REVIEW OF THEIR SUPERVISORY POLICIES, PROCEDURES AND SYSTEMS RELATING TO THESE ISSUES. FINRA STATED THAT THE SANCTIONS REFLECT THE CREDIT THAT THE RESPONDENT FIRMS HAVE BEEN GIVEN FOR SELF-REPORTING THESE ISSUES, AND FOR THE SUBSTANTIAL ASSISTANCE THEY PROVIDED TO FINRA DURING ITS INVESTIGATION BY, AMONG OTHER THINGS, PROVIDING INFORMATION OBTAINED AS A RESULT OF THEIR INTERNAL INVESTIGATION. THE RESPONDENT FIRMS FURTHER AGREED TO COMPLY WITH THE FOLLOWING UNDERTAKINGS: THE RESPONDENT FIRMS WILL EACH CONDUCT A COMPREHENSIVE REVIEW OF THEIR SYSTEMS AND PROCEDURES FOR THE CAPTURE, RETENTION AND REVIEW OF EMAIL TO DETERMINE THAT THOSE SYSTEMS AND PROCEDURES ARE REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH THE RECORDKEEPING AND SUPERVISORY REQUIREMENTS OF FINRA RULES AND THE FEDERAL SECURITIES LAWS. Summary: WITHOUT ADMITTING OR DENYING FINRA'S FINDINGS, THE RESPONDENT FIRMS CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS BY AGREEING TO A LETTER OF ACCEPTANCE, WAIVER AND CONSENT ("AWC") WITH FINRA. THE RESPONDENT FIRMS WERE CENSURED AND FINED IN THE AGGREGATE AMOUNT OF $1.2 MILLION, OF WHICH IIA WAS RESPONSIBLE FOR $254,621.85. IN THE AWC, FINRA ACKNOWLEDGED THAT THE RESPONDENT FIRMS SELF-REPORTED THE EMAIL ISSUES DESCRIBED HEREIN AND UNDERTOOK AN INTERNAL REVIEW OF THEIR SUPERVISORY POLICIES, PROCEDURES AND SYSTEMS RELATING TO THESE ISSUES. FINRA STATED THAT THE SANCTIONS REFLECT THE CREDIT THAT THE RESPONDENT FIRMS HAVE BEEN GIVEN FOR SELF-REPORTING THESE ISSUES, AND FOR THE SUBSTANTIAL ASSISTANCE THEY PROVIDED TO FINRA DURING ITS INVESTIGATION BY, AMONG OTHER THINGS, PROVIDING INFORMATION OBTAINED AS A RESULT OF THEIR INTERNAL INVESTIGATION. THE RESPONDENT FIRMS FURTHER AGREED TO COMPLY WITH THE FOLLOWING UNDERTAKINGS: THE RESPONDENT FIRMS WILL EACH CONDUCT A COMPREHENSIVE REVIEW OF THEIR SYSTEMS AND PROCEDURES FOR THE CAPTURE, RETENTION AND REVIEW OF EMAIL TO DETERMINE THAT THOSE SYSTEMS AND PROCEDURES ARE REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH THE RECORDKEEPING AND SUPERVISORY REQUIREMENTS OF FINRA RULES AND THE FEDERAL SECURITIES LAWS.