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Violation Tracker Individual Record

Company: Banca IMI Securities Corp.
Current Parent CompanyIntesa Sanpaolo
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $35,300,000
Year: 2017
Date: August 18, 2017
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Banca IMI Securities Corp., an indirect, wholly-owned U.S. subsidiary of Italian bank Intesa Sanpaolo SpA, agreed to pay more than $35 million to settle allegations that it violated federal securities laws when it requested the issuance of and received American Depositary Receipts without possessing the underlying foreign shares.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Italy
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.