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Violation Tracker Individual Record

Company: 
Fred Alger Management, Inc.
Current Parent Company: 
Alger Associates
Penalty: 
$40,000,000
Year: 
2007
Date: 
January 18, 2007
Primary Offense: 
investor protection violation
Secondary Offense: 
securities issuance or trading violation
Violation Description: 

Fred Alger Management, Inc. and Fred Alger & Company agreed to pay $40 million to settle allegations that the companies allowed market timing and late trading in the Alger Fund.

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: 
New York
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
investment management
Source of Data: 

https://www.sec.gov/news/press/2007/2007-6.htm (archived copy)

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.