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Violation Tracker Individual Record

Company: Hartford Financial Services Group, Inc.
Current Parent CompanyHartford Financial Services
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $115,000,000
Year: 2007
Date: July 23, 2007
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Secondary Offense: securities issuance or trading violation
Mega-ScandalMarket Timing Abuses
Violation Description: Hartford Financial agreed to pay $115 million to Connecticut, Illinois and New York to settle allegations of improper fictitious quoting, steering of insurance business and allowance of improper market-timing in variable annuity products.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Connecticut
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: Madigan: Settlement Reached with Hartford; Investigation Uncovered Unlawful Fictitious Quoting Scheme, States News Service, July 23, 2007 (via Nexis).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.