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Company: Alliance Capital Management L.P.
Current Parent Company:
Equitable Holdings
Parent at the Time of the Penalty Announcement:
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Recap of Ownership Changes:
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Penalty: $250,000,000
Year: 2003
Date: December 18, 2003
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Mega-Scandal:
Market Timing Abuses
Violation Description: Alliance Capital Management L.P. agreed to pay $250 million to settle allegations that it allowed market timing in certain of its mutual funds in exchange for fee-generating investments in other Alliance Capital investment vehicles.
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: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: investment management
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
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