Violation Tracker Individual Record

Company: 
Thomas Weisel Partners
Current Parent Company: 
Stifel Financial
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 Parent: 
USA
HQ State of Parent: 
Missouri
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of 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.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.