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Violation Tracker Individual Record

Company: Wachovia Securities
Current Parent CompanyWells Fargo
Parent at the Time of the Penalty Announcement subscribe to see this data field
Recap of Ownership Changes subscribe to see this data field
Penalty: $60,000,000
Year: 2008
Date: August 15, 2008
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Wachovia Securities agreed to repurchase $10 million illiquid securities and pay $50 million in penalties as part of the resolution of multistate litigation alleging it misled customers in the marketing and sale of auction rate securities.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.