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Violation Tracker Individual Record

Company: Dain Rauscher Incorporated
Current Parent Company: Royal Bank of Canada
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $12,941,191
Year: 2000
Date: April 6, 2000
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Violation Description: Dain Rauscher Incorporated agreed to pay nearly $13 million to settle allegations arising out of the SEC's investigation into the practice in municipal bond transactions known as yield burning.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.