Violation Tracker Individual Record
Company:Waddell & Reed, Inc.
Date:April 29, 2005
Offense Group:financial offenses
Primary Offense:investor protection violation
To resolve litigation relating to variable annuities, Waddell & Reed agreed to repay up to $11 million to more than 5,000 customers along with a fine of $5 million to NASD and a fine of $2 million to state regulators.
Level of Government:state
Action Type:agency action
Agency:Multistate Financial Regulators Case
Civil or Criminal Case:civil
HQ Country of Parent:USA
HQ State of Parent:Kansas
Ownership Structure of Parent:publicly traded
Major Industry of Parent:financial services
Specific Industry of Parent:investment management
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