Violation Tracker Individual Record
Company:
Salomon Smith Barney Inc.
Current Parent Company:
Morgan Stanley
Penalty:
$400,000,000
Year:
2002
Date:
December 20, 2002
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Violation Description:
Ten major brokerage houses agreed to take steps to address conflicts of interest in their securities research work and pay $1.3 billion in penalties to settle multistate litigation. The penalties were also announced later by the U.S. Securities and Exchange Commission after it had approved the settlements; see the Violation Tracker entry for Salomon Smith Barney at: https://violationtracker.goodjobsfirst.org/violation-tracker/-citigroup-...
Level of Government:
state
Action Type:
agency action
Agency:
Multistate Attorneys General Case
Civil or Criminal Case:
civil
HQ Country of Parent:
USA
HQ State of Parent:
New York
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
financial services
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.
