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Violation Tracker Individual Record

Company: Banc of America Securities LLC
Current Parent CompanyBank of America
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $4,550,000,000
Year: 2008
Date: October 8, 2008
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Bank of America agreed to return $4.5 billion to investors and pay $50 million in civil penalties as part of the resolution of multistate litigation alleging it misled customers in the marketing and sale of auction-rate securities.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.