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Violation Tracker Individual Record

Company: John Nuveen & Co., Inc.
Current Parent Company: TIAA
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: $6,630,000
Year: 2000
Date: August 4, 2000
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: NASD Regulation, Inc. censured seven brokerage firms for engaging in the practice of yield burning. The firms were ordered to pay a total of $13.5 million. The NASD press release did not include the specific payment amounts for the individual firms. That information was obtained from an article in the August 7, 2000 issue of The Bond Buyer (retrieved via Nexis).
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: New York
Ownership Structure of Current Parent: non-profit
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
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.