Defendant Name: Hartford Securities Distribution Company, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Hartford Financial Services Group, Inc
SIC Code: 6411
CUSIP: 41651510

Initial Case Details

Legal Case Name In the Matter of Hartford Investment Financial Services, et al.
First Document Date 08-Nov-2006
Initial Filing Format Administrative Action
File Number 3-12476
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Related Violations Alleged

Hartford Securities Distribution Company, Inc. is alleged to have aided and abetted Hartford Investment Financial Services, LLC's violation of Sec 17(a)(2) of the Securities Act (willfully/knowingly).
Hartford Securities Distribution Company, Inc. is alleged to have aided and abetted HL Investment Advisors, LLC's violation of Sec 17(a)(2) of the Securities Act (willfully/knowingly).
Hartford Securities Distribution Company, Inc. is alleged to have caused Hartford Investment Financial Services, LLC's violation of Sec 17(a)(2) of the Securities Act.
Hartford Securities Distribution Company, Inc. is alleged to have caused HL Investment Advisors, LLC's violation of Sec 17(a)(2) of the Securities Act.
Hartford Securities Distribution Company, Inc. is alleged to have aided and abetted Hartford Investment Financial Services, LLC's violation of Sec 17(a)(3) of the Securities Act (willfully/knowingly).
Hartford Securities Distribution Company, Inc. is alleged to have aided and abetted HL Investment Advisors, LLC's violation of Sec 17(a)(3) of the Securities Act (willfully/knowingly).
Hartford Securities Distribution Company, Inc. is alleged to have caused Hartford Investment Financial Services, LLC's violation of Sec 17(a)(3) of the Securities Act.
Hartford Securities Distribution Company, Inc. is alleged to have caused HL Investment Advisors, LLC's violation of Sec 17(a)(3) of the Securities Act.
Hartford Securities Distribution Company, Inc. is alleged to have aided and abetted Hartford Investment Financial Services, LLC's violation of Section 206(2) Advisers Act (willfully/knowingly).
Hartford Securities Distribution Company, Inc. is alleged to have aided and abetted HL Investment Advisors, LLC's violation of Section 206(2) Advisers Act (willfully/knowingly).
Hartford Securities Distribution Company, Inc. is alleged to have caused Hartford Investment Financial Services, LLC's violation of Section 206(2) Advisers Act.
Hartford Securities Distribution Company, Inc. is alleged to have caused HL Investment Advisors, LLC's violation of Section 206(2) Advisers Act.

Resolutions

First Resolution Date 08-Nov-2006
Headline Total Penalty and Disgorgement $55,000,000

Related Documents:

33-8750 08-Nov-2006 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933, Section 15(b) of the Securities Exchange Act of 1934, Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of the Investment Company Act of 1940
According to the SEC: "From at least January 2000 through December 2003, Hartford Investment and HL Advisors, with Hartford Distribution's knowledge, made material misrepresentations and omitted to state material facts to the Retail and HLS Funds' (collectively the "Funds") shareholders and Boards of Directors relating to their use of $51 million of Fund assets in the form of directed brokerage commissions to satisfy financial obligations to certain broker-dealers for the marketing and distribution of the Retail and HLS Funds."
33-10438 22-Nov-2017 Administrative Proceeding
Order Modifying Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933, Section 15(b) of the Securities Exchange Act of 1934, Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of the Investment Company Act of 1940
According to the SEC: "The Respondents have submitted an Amended Offer of Settlement ("Offer"), which the Commission has determined to accept, proposing to modify the Commission's 2006 Order to: (1) relieve them of the obligation to maintain a Disclosure Review Committee in accordance with paragraph 35.a of the 2006 Order; (2) relieve them of the obligation to maintain an Internal Compliance Controls Committee in accordance with paragraphs 36.d -- 36.h of the 2006 Order; (3) modify the requirements regarding revenue sharing policies in accordance with paragraph 35.b of the 2006 Order; and (4) modify the requirements regarding annual compliance training in accordance with paragraph 36.i of the 2006 Order."

Other Defendants in Action:

Hartford Investment Financial Services, LLC
HL Investment Advisors, LLC