Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: RS Investment Management L.P.
Penalty: $30,000,000
Year: 2004
Date: October 6, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Mega-Scandal: Market Timing Abuses
Violation Description: The New York Attorney General announced a $30 million settlement -- $25 million in damages and penalties along with $5 million in fee reductions -- with RS Investment to resolve allegations of unlawful trading of mutual funds through market timing. The damages and penalty portions of the settlement were negotiated together with the SEC, which issued its own announcement; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: New York Attorney General
Civil or Criminal Case: civil
Facility State: New York
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.