Violation Tracker Individual Record

Company: 
MetLife, Inc.
Current Parent Company: 
MetLife
Penalty: 
$5,000,000
Year: 
2006
Date: 
September 19, 2006
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

NASD imposed a $5 million fine against MetLife Securities, Inc., New England Securities, Inc. and Walnut Street Securities, Inc.-all owned by MetLife, Inc.-for providing inaccurate and misleading information to NASD, allowing late trading of mutual funds, failing to produce emails in a timely fashion and other conduct that violates NASD's rules.

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: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
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: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.