Violation Tracker Individual Record

Company: 
Morgan Keegan & Company, Inc.
Current Parent Company: 
Raymond James Financial
Penalty: 
$850,000
Year: 
2016
Date: 
February 8, 2016
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Morgan Keegan agreed to pay $750,000 to the Missouri General Revenue Fund and $100,000 to the Investor Education and Protection Fund in settlement of allegations it failed to adequately investigate and inform investors of the risks of bonds in the Mamtek sucralose factory, which defaulted shortly after the bonds were sold.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Missouri Secretary of State-Securities
Civil or Criminal Case: 
civil
Facility State: 
Missouri
HQ Country of Parent: 
USA
HQ State of Parent: 
Florida
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
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.