Violation Tracker Individual Record
Company:
Santander Securities LLC
Current Parent Company:
Banco Santander
Penalty:
$100,000
Year:
2019
Date:
June 5, 2019
Offense Group:
consumer-protection-related offenses
Primary Offense:
consumer protection violation
Violation Description:
Santander agreed to pay $100,000 and reimburse clients in settlement of allegations of deceptive marketing of unsuitable variable annuity products to seniors.
Level of Government:
state
Action Type:
agency action
Agency:
Massachusetts Attorney General
Civil or Criminal Case:
civil
Facility State:
Massachusetts
HQ Country of Parent:
Spain
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
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.
