Violation Tracker Individual Record
Company:
Massachusetts Financial Services Company
Current Parent Company:
Sun Life Financial
Penalty:
$50,000,000
Year:
2004
Date:
March 31, 2004
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Secondary Offense:
securities issuance or trading violation
Violation Description:
Massachusetts Financial Services Company agreed to pay $50 million to settle allegations that it failed to adequately disclose the specifics of its shelf-space arrangements with brokerage firms and the conflicts created by those arrangements.
Level of Government:
federal
Action Type:
agency action
Agency:
Securities and Exchange Commission
Civil or Criminal Case:
civil
HQ Country of Parent:
Canada
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
life insurance
Source of Data:
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.
