Violation Tracker Individual Record

Company: 
Fidelity Investments
Current Parent Company: 
Fidelity Investments
Penalty: 
$8,000,000
Year: 
2008
Date: 
March 5, 2008
Offense Group: 
competition-related offenses
Primary Offense: 
kickbacks and bribery
Violation Description: 

Fidelity Investments was fined $8 million in connection with allegations that 13 current or former employees, including high-ranking executives, improperly accepted more than $1.6 million in travel, entertainment, and other gifts paid for by outside brokers courting the massive trading business Fidelity generated on behalf of the mutual funds it managed.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Massachusetts
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
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.