Violation Tracker Individual Record

Company: 
Lazard Capital Markets LLC
Penalty: 
$2,847,008
Year: 
2008
Date: 
October 30, 2008
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

Broker-dealer Lazard Capital Markets LLC agreed to pay a penalty of $600,000 and more than $2.2 million in disgorgement and interest to settle allegations that it failed to supervise three employees who collectively spent more than $600,000 while improperly entertaining traders at Fidelity Investments in an effort to generate brokerage business.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
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.