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Violation Tracker Individual Record

Company: Bear, Stearns & Co., Inc.
Current Parent Company: JPMorgan Chase
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $250,000,000
Year: 2006
Date: March 16, 2006
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Mega-Scandal: Market Timing Abuses
Violation Description: Bear, Stearns & Co., Inc. and Bear, Stearns Securities Corp. agreed to pay $250 million to settle allegations of securities fraud for facilitating unlawful late trading and deceptive market timing of mutual funds by its customers and customers of its introducing brokers.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
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.