Violation Tracker Parent Company Summary
Parent Company Name:
New York Life Insurance
Ownership Structure:
mutual
Headquartered in:
New York
Major Industry:
financial services
Specific Industry:
insurance
Penalty total since 2000:
$57,172,602
Number of records:
17
| Top 5 Offense Groups (Groups Defined) | Penalty Total | Number of Records |
|---|---|---|
| consumer-protection-related offenses | $26,940,500 | 7 |
| employment-related offenses | $23,094,818 | 4 |
| financial offenses | $7,137,284 | 6 |
| Top 5 Primary Offense Types | Penalty Total | Number of Records |
|---|---|---|
| benefit plan administrator violation | $17,000,000 | 2 |
| insurance violation | $16,011,500 | 6 |
| consumer protection violation | $10,929,000 | 1 |
| investor protection violation | $7,137,284 | 6 |
| employment discrimination | $6,000,000 | 1 |
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:
Individual Penalty Records:
Click on the company or penalty amount for more information on each case.
| Company | Primary Offense Type | Year | Agency |
Penalty Amount |
|---|---|---|---|---|
| New York Life Insurance Company | insurance violation | 2013 | MULTI-AG | $15,000,000 |
| New York Life Insurance | benefit plan administrator violation | 2008 | private lawsuit-federal | $14,000,000 |
| New York Life Insurance & Annuity Corporation | consumer protection violation | 2021 | NY-DFS | $10,929,000 |
| New York Life Investment Management LLC | investor protection violation | 2009 | SEC | $6,100,784 |
| New York Life Insurance | employment discrimination | 2006 | private lawsuit-federal | $6,000,000 |
| New York Life Insurance Company | benefit plan administrator violation | 2017 | private lawsuit-federal | $3,000,000 |
| New York Life Insurance Co. et al. | insurance violation | 2016 | MN-FIN | $800,000 |
| NYLIFE Securities LLC | investor protection violation | 2007 | FINRA | $354,000 |
| NYLife Securities, Inc. | investor protection violation | 2004 | FINRA | $350,000 |
| NYLIFE Securities, LLC | investor protection violation | 2017 | IN-SEC | $275,000 |
| New York Life Insurance Co. | insurance violation | 2009 | CA-INS | $175,000 |
| New York Life | wage and hour violation | 2016 | private lawsuit-federal | $94,818 |
| NYLIFE Securities LLC | investor protection violation | 2019 | ME-SEC | $50,000 |
| New York Life Insurance Co. | insurance violation | 2011 | FL-OFR | $18,000 |
| NEW YORK LIFE INSURANCE CO | insurance violation | 2002 | VA-INS | $13,500 |
| NYLIFE Securities LLC | investor protection violation | 2017 | NH-BSR | $7,500 |
| New York Life Insurance and Annuity Corp. | insurance violation | 2018 | DE-INS | $5,000 |
