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Violation Tracker Individual Record

Company: Putnam Investment Management LLC
Current Parent Company: Franklin Resources
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $55,000,000
Year: 2004
Date: April 8, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Mega-Scandal: Market Timing Abuses
Violation Description: Putnam Investment Management LLC was ordered to pay a $50 million civil penalty and $5 million in disgorgement for allegedsly violating federal securities laws by failing to disclose improper market timing trading by Putnam portfolio managers.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
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.