Violation Tracker Individual Record
Company:
Fred Alger Management, Inc.
Current Parent Company:
Alger Associates
Penalty:
$40,000,000
Year:
2007
Date:
January 18, 2007
Offense Group:
financial offenses
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:
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.