Violation Tracker Individual Record

Company: 
Sentinel Financial Services Company
Penalty: 
$700,000
Year: 
2004
Date: 
October 7, 2004
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

NASD censured and fined Sentinel Financial Services Company, of Montpelier, Vermont, $700,000 for failing to prevent market timing in three mutual funds offered by its affiliate, Sentinel Group Funds, Inc. Sentinel also failed to establish and maintain a reasonable supervisory system designed to detect and prevent market timing in violation of the funds' trading policies.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).

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.