Violation Tracker Individual Record

Company: 
OppenheimerFunds Inc.
Current Parent Company: 
Invesco
Penalty: 
$35,000,000
Year: 
2012
Date: 
June 6, 2012
Primary Offense: 
investor protection violation
Violation Description: 

The Securities and Exchange Commission announced a settlement with investment management company OppenheimerFunds Inc. of allegations that its sales and distribution arm made misleading statements about two of its mutual funds struggling in the midst of the credit crisis in late 2008.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Georgia
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
investment management
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.