Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Janney Montgomery Scott LLC
Current Parent Company: Penn Mutual
Penalty: $2,200,000
Year: 2005
Date: October 13, 2005
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: NASD fined Janney Montgomery Scott LLC $1.2 million for permitting improper market timing and related violations. In addition, NASD ordered the firm to pay nearly $1 million in restitution to the affected mutual funds.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Pennsylvania
Ownership Structure of Current Parent: mutual
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance and investment management
Source of Data: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.