Violation Tracker Individual Record

Company: 
Ladenburg Thalmann & Co.
Current Parent Company: 
Reverence Capital Partners
Penalty: 
$1,200,000
Year: 
2005
Date: 
April 14, 2005
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

NASD announced that Ladenburg Thalmann & Co. of New York, NY had agreed to refund $1.2 million, plus interest, to customers who were overcharged in proceeds transactions - transactions in which a customer sells securities through a broker and uses the proceeds to pay for other securities purchased at or about the same time.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
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: 
private equity (including portfolio companies)
Specific Industry of Parent: 
private equity (including portfolio companies)
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).

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.