Violation Tracker Individual Record

Company: 
GE Funding Capital Market Services, Inc.
Current Parent Company: 
General Electric
Penalty: 
$34,250,000
Year: 
2011
Date: 
December 23, 2011
Primary Offense: 
price-fixing or anti-competitive practices
Violation Description: 

GE Funding Capital Market Services, Inc. paid $34.25 million to settle multistate allegations of anticompetitive and fraudulent conduct in the municipal bond derivatives industry, including bid-rigging and submission of fraudulent certifications of compliance with U.S. Treasury regulations. This was part of a larger $70 million settlement that also involved federal agencies: https://violationtracker.goodjobsfirst.org/violation-tracker/-ge-funding...

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Massachusetts
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
Link to Archived Court Document: 
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.