UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: September 28, 2005
ING USA Annuity and Life Insurance Company
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(Exact name of registrant as specified in its charter)
IOWA
(State of Incorporation)
333-104546, 333-104539, 333-57212,
333-123936, 333-104547, 333-104548
(Commission File Numbers)
#41-0991508
(IRS Employer Identification Number)
1475 Dunwoody Drive, West Chester, PA 19380-1478
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code ............610-425-3400
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
THIS FILING IS MADE IN ACCORDANCE WITH ITEM NO. 8.01 OF SECTION 8 OF FORM 8-K:
OTHER EVENTS.
FURTHER INFORMATION REGARDING TRADING OF ING'S U.S. MUTUAL FUNDS
As previously reported, like many financial services companies, certain U.S.
affiliates of ING Groep, N.V. ("ING"), including ING USA Annuity and Life
Insurance Company (the "Company") have received informal and formal requests for
information from various state and federal governmental agencies and
self-regulatory organizations in connection with inquiries and investigations of
the products and practices of the financial services industry. In each case, the
Company and its affiliates have been and are providing full cooperation.
The following information should be read in conjunction with the Company's Form
10-K Annual Report filed on March 18, 2005. Reference is also made to the
Company's Form 8-K filed on October 29, 2004 and Form 8-K/A filed on September
8, 2004.
As previously reported, as part of its internal review of mutual fund trading,
ING identified three arrangements, dating from 1995, 1996 and 1998, under which
the administrator to the then - Pilgrim Funds, which subsequently became part of
the ING Funds (U.S.), entered into formal and informal arrangements that
permitted frequent trading. The Company also previously reported that its
affiliate, ING Funds Distributors, LLC ("IFD"), the distributor of certain ING
Funds (U.S.), received notice from the staff of the National Association of
Securities Dealers ("NASD") that the staff made a preliminary determination to
recommend disciplinary action against IFD and one of its registered persons for
violations of the NASD Conduct Rules and federal securities laws in connection
with these three arrangements.
In September 2005 IFD settled an administrative proceeding with the NASD
regarding these three arrangements. Under the terms of the Letter of Acceptance,
Waiver and Consent ("AWC") with the NASD, under which IFD neither admitted nor
denied the allegations or findings, IFD consented to the following sanctions:
(i) a censure; (ii) a fine of $1.5 million; (iii) restitution of approximately
$1.44 million to certain ING Funds (U.S.) for losses attributable to excessive
trading described in the AWC; and (iv) agreement to make certification to the
NASD regarding the review and establishment of certain procedures. IFD's
settlement of this administrative proceeding is not material to the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ING USA Annuity and Life Insurance Company
(Registrant)
Date: September 28, 2005 /s/Linda E. Senker
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Linda E. Senker