Defendant Name: The Phoenix Companies Inc.

Defendant Type: Public Company
SIC Code: 6311
CUSIP: 71902E60

Initial Case Details

Legal Case Name In the Matter of the Phoenix Companies, Inc. and PHL Variable Insurance Company
First Document Date 21-Mar-2014
Initial Filing Format Administrative Action
File Number 3-15810
Allegation Type Issuer Reporting and Disclosure

Violations Alleged

Exchange Act
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13

Resolutions

First Resolution Date 21-Mar-2014
Headline Total Penalty and Disgorgement $950,000

Related Documents:

34-71768 21-Mar-2014 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On March 21, 2014, the SEC instituted a settled cease-and-desist proceeding against The Phoenix Companies, Inc. According to the SEC: "[O]n November 8, 2012, Phoenix announced that its previously issued audited financial statements for the years ended December 31, 2011, 2010, and 2009 could no longer be relied upon and should be restated, along with the unaudited financial statements for quarterly periods dating back to March 31, 2011. Phoenix listed two principal error categories, including the incorrect classification of deposits and withdrawals of universal life and variable universal life products and the incorrect reporting of certain fees and interest charges as cash flows provided by financing activities."
34-72738 01-Aug-2014 Administrative Proceeding
Order Amending Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order and Revised Undertakings
On August 1, 2014, the SEC issued an order amending an earlier order issued on March 21, 2014 instituting cease-and-desist proceedings against The Phoenix Companies, Inc. and PHL Variable Life Insurance Company. The SEC found that The Phoenix Companies failed to file various SEC filings according to the agreed upon deadline under the March 21, 2014 order.

Other Defendants in Action:

PHL Variable Insurance Company