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Violation Tracker Current Parent Company Summary

Current 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$341,288,720
Number of records: 21
Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
financial offenses$207,715,46816
competition-related offenses$98,700,0002
employment-related offenses$34,873,2523
Top 5 Primary Offense TypesPenalty TotalNumber of Records
investor protection violation$207,715,46816
Foreign Corrupt Practices Act$98,700,0002
benefit plan administrator violation$34,850,0002
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.

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

Individual Penalty Records:

Click on the company or penalty amount for more information on each case.

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CompanyPrimary Offense TypeYearAgencyPenalty Amount sort icon
Legg Mason Inc.Foreign Corrupt Practices Act2018DOJ_CRIMINAL$64,200,000
Putnam Investment Management LLCinvestor protection violation2004SEC$55,000,000
Franklin Advisers, Inc.investor protection violation2004SEC$50,000,000
Putnam Investment Management, LLCinvestor protection violation2005SEC$40,000,001
Legg Mason Inc.Foreign Corrupt Practices Act2018SEC$34,500,000
Western Asset Management Companybenefit plan administrator violation2014EBSA$21,000,000
Franklin Advisers, Inc. and Franklin Templeton Distributors, Inc.investor protection violation2004SEC$20,000,000
Western Asset Management Companyinvestor protection violation2014SEC$19,400,000
Franklin/Templeton Distributors, Inc.investor protection violation2004CA-AG$18,000,000
Franklin Resources, Inc.benefit plan administrator violation2019private lawsuit-federal$13,850,000
Legg Mason Wood Walker, Inc.investor protection violation2004SEC$2,315,467
Putnam Investment Management, LLCinvestor protection violation2018SEC$1,000,000
Legg Mason Wood Walker, Incorporatedinvestor protection violation2005SEC$1,000,000
Putnam Investment Management, LLCinvestor protection violation2007SEC$350,000
Franklin Advisers and Inc.investor protection violation2020SEC$250,000
Putnam Retail Management Limited Partnershipinvestor protection violation2007FINRA$175,000
Franklin Templeton Investments Corp.investor protection violation2020SEC$75,000
Western Asset Management Co.investor protection violation2001SEC$50,000
Legg Mason Fund Adviser, Inc.investor protection violation2001SEC$50,000
Legg Mason Wood Walker, Incorporatedinvestor protection violation2001SEC$50,000
Franklin Templeton Distributors, Inc.Family and Medical Leave Act2016WHD$23,252
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.