Violation Tracker Individual Record

Company: 
Securities Service Network, Inc. and SSN Advisory, Inc.
Penalty: 
$550,000
Year: 
2015
Date: 
March 5, 2015
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

Securities Service Network, Inc. and SSN Advisory, Inc. agreed to pay $500,000 in restitution, $35,000 in civil penalties and $15,000 in costs in settlement of allegations they failed to reasonably supervise an investment adviser representative leading to clients losing money from unsuitable recommendations.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Missouri Secretary of State-Securities
Civil or Criminal Case: 
civil
Facility State: 
Missouri
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.