Violation Tracker Individual Record

Company: 
Southwest Securities, Inc.
Current Parent Company: 
Hilltop Holdings
Penalty: 
$10,000,000
Year: 
2005
Date: 
January 10, 2005
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

The SEC and the New York Stock Exchange announced the settlement of enforcement proceedings against Southwest Securities, Inc., a Dallas, Texas based broker-dealer and investment adviser. According to the SEC and NYSE, Southwest failed to supervise brokers in Southwest's downtown Dallas branch office who engaged in fraudulent mutual fund market timing schemes, late trading of mutual fund shares, or both.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Texas
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking, brokerage and insurance
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.