Violation Tracker Individual Record

Company: 
Principal Financial Group
Current Parent Company: 
Principal Financial
Penalty: 
$5,000,000
Year: 
2007
Date: 
November 14, 2007
Offense Group: 
competition-related offenses
Primary Offense: 
kickbacks and bribery
Violation Description: 

The Principal Financial Group agreed to pay $5 million in settlement of allegations it secretly paid compensation to brokers to ensure access to pension plan insurance contracts.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Connecticut Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Connecticut
HQ Country of Parent: 
USA
HQ State of Parent: 
Iowa
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.