Violation Tracker Individual Record

Company: 
OppenheimerFunds, Inc.
Current Parent Company: 
Invesco
Penalty: 
$77,230,000
Year: 
2009
Date: 
December 22, 2009
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

OppenheimerFunds, Inc. agreed to pay in settlement of allegations it mismanaged funds in the state's college savings plan.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Illinois Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Illinois
HQ Country of Parent: 
USA
HQ State of Parent: 
Georgia
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
investment management
Notes: 

Illinois worked with other states, but it appears settlements are separate.

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.