Violation Tracker Individual Record

Company: 
Royal Alliance Associates, Inc.
Current Parent Company: 
Reverence Capital Partners
Penalty: 
$250,000
Year: 
2019
Date: 
December 12, 2019
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

The Bureau found that Royal Alliance Associates, Inc. failed to adequately supervise a longtime agent who misappropriated more than $1.4 million from at least three Royal Alliance customers while overseeing a branch office in Maplewood from 2009 to 2017.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New Jersey Bureau of Securities
Civil or Criminal Case: 
civil
Facility State: 
New Jersey
Facility City: 
Jersey City
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
private equity (including portfolio companies)
Specific Industry of Parent: 
private equity (including portfolio companies)
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.