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Violation Tracker Individual Record

Company: Massachusetts Financial Services Co.
Current Parent CompanySun Life Financial
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $225,000,000
Year: 2004
Date: February 5, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Violation Description: Massachusetts Financial Services Co. agreed to pay $225 million to settle allegations that it violated federal securities laws by allowing widespread market timing trading in certain of its mutual funds in contravention of those funds' public disclosures.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: life insurance
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.