Violation Tracker Individual Record
Company:
Alliance Capital Management
Current Parent Company:
AXA
Penalty:
$600,000,000
Year:
2003
Date:
December 18, 2003
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Secondary Offense:
securities issuance or trading violation
Violation Description:
The New York Attorney General announced a $600 million settlement with Alliance Capital Management -- $250 million in penalties and restitution and $350 million in fee reductions -- to resolve litigation over improper trading and exorbitant fees. The $250 million portion was negotiated together with the Securities and Exchange Commission; see the Violation Tracker entry at https://violationtracker.goodjobsfirst.org/violation-tracker/-alliance-c...
Level of Government:
state
Action Type:
agency action
Agency:
New York Attorney General
Civil or Criminal Case:
civil
Facility State:
New York
HQ Country of Parent:
France
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
insurance
Specific Industry of Parent:
financial services
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.
