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Violation Tracker Individual Record

Company: World Group Securities, Inc.
Current Parent Company: Aegon
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $853,501
Year: 2010
Date: May 17, 2010
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: World Group Securities agreed to pay $828,501 in restitution and a $50,000 administrative penalty ($25,000 if paid promptly) in settlement of allegations it failed to supervise its registered securities salesmen, allowing fraudulent acts to be carried out by salesmen under its supervisory control.
Level of Government: state
Action Type: agency action
Agency: Arizona Corporation Commission
Civil or Criminal Case: civil
Facility State: Arizona
HQ Country of Current Parent: Netherlands
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
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.