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Violation Tracker Individual Record

Company: AXA Rosenberg
Current Parent Company: AXA
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $242,000,000
Year: 2011
Date: February 3, 2011
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The SEC accused three AXA Rosenberg entities with securities fraud for concealing a significant error in the computer code of the quantitative investment model that they use to manage client assets. The error caused $217 million in investor losses. AXA Rosenberg Group LLC, AXA Rosenberg Investment Management LLC, and Barr Rosenberg Research Center LLC agreed to settle the case by paying $217 million to harmed clients plus a $25 million penalty.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: France
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
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.