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Violation Tracker Individual Record

Company: Regions Bank
Current Parent CompanyRegions Financial
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $1,000,001
Year: 2010
Date: October 4, 2010
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The SEC announced that othe District Court for the Southern District of Florida entered a Final Judgment against Regions Bank for its role in connection with a Florida-based offering fraud by unregistered broker-dealers U.S. Pension Trust Corp. and U.S. College Trust Corp. The final judgment required Regions Bank to pay disgorgement of $1.00 and a civil penalty in the amount of $1,000,000 into a Fair Fund for the benefit of investors injured in USPT's faud. Regions Bank consented to the entry of the final judgment without admitting or denying any allegations of the complaint (except as to jurisdiction), waived findings of fact and conclusions of law, and waived any right to appeal from this final judgment.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Alabama
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.