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Violation Tracker Individual Record

Company: OppenheimerFunds
Current Parent Company: Invesco
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: $67,300,000
Year: 2010
Date: June 16, 2010
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: OppenheimerFunds agreed to pay $67.3 million to resolve an investigation of its management of the state's 529 college savings programs.
Level of Government: state
Action Type: agency action
Agency: New Mexico Attorney General
Civil or Criminal Case: civil
Facility State: New Mexico
HQ Country of Current Parent: USA
HQ State of Current Parent: Georgia
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: investment management
Source of Data: AG King Announces Settlement with Oppenheimer Funds Regarding Recovery for New Mexico 529 College Savings Account Owners, Targeted News Service, June 16, 2010 (via Nexis).
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.