Violation Tracker Individual Record

Company: 
Putnam Investment Management LLC
Current Parent Company: 
Power Financial Corporation
Penalty: 
$55,000,000
Year: 
2004
Date: 
April 8, 2004
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
securities issuance or trading violation
Violation Description: 

Putnam Investment Management LLC was ordered to pay a $50 million civil penalty and $5 million in disgorgement for allegedsly violating federal securities laws by failing to disclose improper market timing trading by Putnam portfolio managers.

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: 
insurance and 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.