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Violation Tracker Individual Record

Company: Franklin Advisers, Inc. and Franklin Templeton Distributors, Inc.
Current Parent CompanyFranklin Resources
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $20,000,000
Year: 2004
Date: December 13, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Franklin Advisers, Inc. and Franklin Templeton Distributors, Inc., the investment adviser and principal underwriter and distributor affiliated with the Franklin Templeton mutual funds, agreed to pay $20 million to settle allegations that, without proper disclosure, they used fund assets to compensate brokerage firms for recommending the Franklin Templeton mutual funds over others to their clients.
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: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
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.