Violation Tracker Individual Record

Company: 
U.S. Bancorp Piper Jaffray Inc.
Current Parent Company: 
Piper Jaffray
Penalty: 
$2,625,000
Year: 
2003
Date: 
October 29, 2003
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

U.S. Bancorp Piper Jaffray agreed to set up a $1.5 million restitution fund, pay $125,000 in costs and a $1 million fine in settlement of allegations it failed to reasonably supervise a salesperson who was accused of fraudulent securities transactions.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Montana Commissioner of Securities & Insurance
Civil or Criminal Case: 
civil
Facility State: 
Montana
HQ Country of Parent: 
USA
HQ State of Parent: 
Minnesota
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
investment management
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.