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Violation Tracker Individual Record

Company: Thomas Weisel Partners
Current Parent CompanyStifel Financial
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Penalty: $1,750,000
Year: 2005
Date: March 30, 2005
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: NASD ordered Thomas Weisel Partners of San Francisco, CA to pay $1.75 million for engaging in improper initial public offering (IPO) allocation practices and for failing to retain e-mails. That total represented $1.3 million in ill-gotten profits and an additional $450,000 fine.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Missouri
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: Thomas Weisel Partners to Pay $1.75 Million to Settle NASD Charges of IPO, E-Mail Retention Violations, PR Newswire, March 30, 2005 (via Nexis).
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: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.