Violation Tracker Parent Company Summary

Parent Company Name: 
Franklin Resources
Ownership Structure: 
publicly traded (ticker symbol BEN)
Headquartered in: 
California
Major Industry: 
financial services
Specific Industry: 
financial services
Penalty total since 2000: 
$231,363,719
Number of records: 
16
Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
financial offenses$111,640,46712
competition-related offenses$98,700,0002
employment-related offenses$21,023,2522
Top 5 Primary Offense TypesPenalty TotalNumber of Records
investor protection violation$111,640,46712
Foreign Corrupt Practices Act$98,700,0002
benefit plan administrator violation$21,000,0001
Family and Medical Leave Act$23,2521
Notes: 

Parent-subsidiary linkages are based on relationships current as of the latest revision listed in the Update Log, which may vary from what was the case when a violation occurred. The penalty totals are adjusted to account for the fact that the individual entries below may include both agency records and settlement announcements for the same case; or else a penalty covering multiple locations may be listed in the individual records for each of the facilities. The totals are also adjusted to reflect cases in which federal and state or local agencies cooperated and issued separate announcements of the outcome. Duplicate or overlapping penalty amounts are marked with an asterisk in the list below.

Associated Names: 

FRANKLIN ADVISERS; FRANKLIN ADVISERS AND FRANKLIN TEMPLETON DISTRIBUTORS; Franklin Advisers and Inc.; Franklin Templeton Distributors, Inc.; Franklin Templeton Investments Corp.; Franklin/Templeton Distributors, Inc.; LEGG MASON; Legg Mason Fund Adviser, Inc.; Legg Mason Wood Walker, Incorporated; Smith Barney Fund Management LLC; WESTERN ASSET MGT

Links: 

Subsidy Tracker data on financial assistance to this company by federal, state and local government agencies can be found here.

For an overview of assistance this company is receiving under the CARES Act, see its Covid Stimulus Watch summary page here.


Individual Penalty Records:

Click on the company or penalty amount for more information on each case.
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Company Primary Offense Type Year Agency Penalty Amountsort icon
Legg Mason Inc. Foreign Corrupt Practices Act 2018 DOJ_CRIMINAL $64,200,000
Franklin Advisers, Inc. investor protection violation 2004 SEC $50,000,000
Legg Mason Inc. Foreign Corrupt Practices Act 2018 SEC $34,500,000
Western Asset Management Company benefit plan administrator violation 2014 EBSA $21,000,000
Franklin Advisers, Inc. and Franklin Templeton Distributors, Inc. investor protection violation 2004 SEC $20,000,000
Western Asset Management Company investor protection violation 2014 SEC $19,400,000
Franklin/Templeton Distributors, Inc. investor protection violation 2004 CA-AG $18,000,000
Legg Mason Wood Walker, Inc. investor protection violation 2004 SEC $2,315,467
Legg Mason Wood Walker, Incorporated investor protection violation 2005 SEC $1,000,000
Smith Barney Fund Management LLC investor protection violation 2007 SEC $450,000
Franklin Advisers and Inc. investor protection violation 2020 SEC $250,000
Franklin Templeton Investments Corp. investor protection violation 2020 SEC $75,000
Western Asset Management Co. investor protection violation 2001 SEC $50,000
Legg Mason Fund Adviser, Inc. investor protection violation 2001 SEC $50,000
Legg Mason Wood Walker, Incorporated investor protection violation 2001 SEC $50,000
Franklin Templeton Distributors, Inc. Family and Medical Leave Act 2016 WHD $23,252
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