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Violation Tracker Individual Record

Company: Woodbury Financial Services, Inc.
Current Parent Company: Reverence Capital Partners
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $2,070,000
Year: 2014
Date: June 25, 2014
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: Woodbury agreed to pay $150,000 to the Investor Education and Protector Fund and $20,000 in costs in settlement of allegations it failed to reasonably supervise an investment advisor convicted of fraud for misappropriating client funds. The company's settlement with investors for an estimated $1.9 million in restitution is one of the terms of this Consent Order, so it is included in penalty total.
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 Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: private equity (including portfolio companies)
Specific Industry of Current Parent: private equity (including portfolio companies)
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.