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Violation Tracker Individual Record

Company: Ambac Financial Group et al.
Current Parent CompanyAmbac Financial
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $101,900,000
Year: 2013
Date: April 9, 2013
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-ScandalToxic Securities
Violation Description: Bankruptcy court settlement of a dispute arising out of the tax accounting methods used by AMBAC to account for the credit default swap contract losses it purportedly sustained in the wake of the 2008 financial crisis.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-Southern District of New York
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: 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.