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 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.
