Violation Tracker Individual Record

Company: 
AXA Advisors, LLC
Current Parent Company: 
Equitable Holdings
Penalty: 
$600,000
Year: 
2015
Date: 
October 27, 2015
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

The Financial Industry Regulatory Authority ordered five firms to pay restitution estimated at more than $18 million, including interest, to affected customers for failing to waive mutual fund sales charges for eligible charitable organizations and retirement accounts.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
investment management
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government.

Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.