Violation Tracker Individual Record
Company:Fidelity Co-operative Bank
Date:September 22, 2014
Offense Group:financial offenses
Primary Offense:investor protection violation
Fidelity agreed to set up a $3.5 million Relief Fund in settlement of allegations it had insufficient oversight of the accounts opened by TeleFREE entities, which were later accused of constituting an illegal pyramid scheme.
Level of Government:state
Action Type:agency action
Agency:Massachusetts Securities Division
Civil or Criminal Case:civil
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