One of the nation's largest independent broker-dealers says it has reimbursed more than 2,300 accounts in a settlement with the SEC after being charged by the regulator with improperly calculating advisory fees and overcharging clients.

The SEC announced Thursday that Transamerica Financial Advisors failed to process every aggregation request from clients who had increased assets in certain investment programs so they could receive breakpoint discounts on fees that were being offered.

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