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Violation Tracker Individual Record

Company: ConvergEx Group
Current Parent CompanyToronto-Dominion Bank
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Penalty: $107,424,429
Year: 2013
Date: December 18, 2013
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Three brokerage subsidiaries of ConvergEx Group agreed to pay more than $107 million to settle allegations that many of their institutional clients were caused to pay substantially higher amounts than disclosed for the execution of trading orders.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.