Violation Tracker Individual Record

Company: 
Royal Alliance Associates, Inc.
Current Parent Company: 
Reverence Capital Partners
Penalty: 
$500,000
Year: 
2007
Date: 
February 26, 2007
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

Royal Alliance Associates agreed to pay $500,000 to the State of Connecticut in settlement of allegations it failed to adequately supervise its agents and Connecticut office operations, leading to unsuitable securities being sold and fraudulent behavior.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Connecticut Securities and Business Investments Division
Civil or Criminal Case: 
civil
Facility State: 
Connecticut
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
private equity (including portfolio companies)
Specific Industry of Parent: 
private equity (including portfolio companies)
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.