Violation Tracker Individual Record

Company: 
Piper Jaffray & Co.
Current Parent Company: 
Piper Sandler
Penalty: 
$700,000
Year: 
2010
Date: 
May 24, 2010
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

The Financial Industry Regulatory Authority fined Piper Jaffray & Co. $700,000 for violations related to its failure to retain approximately 4.3 million emails from November 2002 through December 2008. Piper Jaffray also failed to inform FINRA of its email retention and retrieval issues, which impacted the firm's ability to comply completely with email extraction requests from FINRA. It also may have affected the firm's ability to respond fully to email requests from other regulators or from parties in civil litigation or arbitrations.

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: 
Minnesota
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
investment management
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government.

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.