Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: OppenheimerFunds Distributor, Inc.
Current Parent Company: Invesco
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: $669,500
Year: 2007
Date: February 27, 2007
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: OppenheimerFunds agreed to pay $394,500 in restitution, a $100,000 fine, and $175,000 in costs in settlement of allegations it operated bulk exchanges of mutual funds with select companies that it failed to disclose in documents, had insufficient records and monitoring, and resulting in dilution of mutual fund returns.
Level of Government: state
Action Type: agency action
Agency: Washington State Department of Financial Institutions
Civil or Criminal Case: civil
Facility State: Washington
HQ Country of Current Parent: USA
HQ State of Current Parent: Georgia
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.