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Violation Tracker Individual Record

Company: FleetBoston Financial Corp.
Current Parent CompanyBank of America
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: $300,000,000
Year: 2004
Date: March 15, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Violation Description: Two FleetBoston subsidiaries agreed to pay $140 million to resolve a market timing case brought by the New York Attorney General. The settlement was jointly negotiated with the SEC, which put out its own announcement; see the Violation Tracker entry at (click here). FleetBoston also reached agreement with the New York AG on reducing investor fees by $160 million over five years.
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 Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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.