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Violation Tracker Individual Record

Company: AXA Equitable
Current Parent Company: Equitable Holdings
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: $20,000,000
Year: 2014
Date: March 17, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: The Department of Financial Services announced that AXA Equitable would pay a $20 million fine for violations stemming from an investigation that uncovered that it made changes to certain variable annuity products limiting the potential returns for existing customers without providing adequate notice to DFS.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: investment management
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.