Violation Tracker Individual Record

Company: 
Banc One Investment Advisors Corporation
Current Parent Company: 
JPMorgan Chase
Penalty: 
$90,000,000
Year: 
2004
Date: 
June 29, 2004
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 $90 million settlement with Banc One to resolve litigation over improper trading and exorbitant fees. The total included $10 million in restitution and disgorgement, $40 million in civil penalties and $40 million in a reduction of fees charged to investors over a five-year period. The restitution and penalty portions were negotiated together with the Securities and Exchange Commission; see the Violation Tracker entry at https://violationtracker.goodjobsfirst.org/violation-tracker/-banc-one-i...

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: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
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.