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Violation Tracker Individual Record

Company: Wachovia Securities LLC
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: $50,000,000
Year: 2008
Date: August 15, 2008
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Wachovia agreed to pay $50 million to a group of states to resolve litigation alleging it failed to properly inform investors about the risks of auction-rate securities. The settlement was also announced by the New Jersey Attorney General; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: Multistate Financial Regulators 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)
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.