Violation Tracker Individual Record
Company:
AXA Rosenberg
Current Parent Company:
AXA
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 Parent:
France
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
insurance
Source of Data:
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.
