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Violation Tracker Individual Record

Company: Franklin/Templeton Distributors, Inc.
Current Parent CompanyFranklin Resources
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $18,000,000
Year: 2004
Date: November 17, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Franklin/Templeton Distributors, Inc. agreed to pay $18 million to settle a state lawsuit alleging it violated state securities laws by not adequately informing investors about agreements to pay broker-dealers to recommend and sell Franklin Templeton mutual funds.
Level of Government: state
Action Type: agency action
Agency: California Attorney General
Civil or Criminal Case: civil
Facility State: California
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: financial services
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.