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Violation Tracker Individual Record

Company: MML Investors Services, LLC
Current Parent Company: Massachusetts Mutual Life Insurance
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $262,092
Year: 2022
Date: August 16, 2022
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: MML agreed to pay a $250,000 administrative fine and disgorge $12,092 of profits in settlement of allegations the company failed to reasonably supervise one of its broker-dealers allowing recommendation of unsuitable investments to customers.
Level of Government: state
Action Type: agency action
Agency: Massachusetts Securities Division
Civil or Criminal Case: civil
Facility State: Massachusetts
HQ Country of Current Parent: USA
HQ State of Current Parent: Massachusetts
Ownership Structure of Current Parent: mutual
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.