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Violation Tracker Individual Record

Company: Royal Alliance Associates, Inc.
Current Parent Company: Reverence Capital Partners
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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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 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.