Violation Tracker Individual Record
Company:
Hampton Roads Bankshares
Current Parent Company:
Atlantic Union Bankshares
Penalty:
$200,000
Year:
2014
Date:
December 5, 2014
Offense Group:
financial offenses
Primary Offense:
accounting fraud or deficiencies
Violation Description:
A Virginia Beach-based bank holding company agreed to settle allegations of violating the federal securities laws by improperly accounting for a deferred tax asset that was not fully realizable due to the company's deteriorating loan portfolio and financial condition.
Level of Government:
federal
Action Type:
agency action
Agency:
Securities and Exchange Commission
Civil or Criminal Case:
civil
Facility State:
Virginia
Facility City:
Virginia Beach
HQ Country of Parent:
USA
HQ State of Parent:
Virginia
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
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.
