Defendant Name:
Joseph Palombo
Defendant Type:
Individual
Initial Case Details
Legal Case Name
In the Matter of Joseph Palombo
First Document Date
09-Feb-2005
Initial Filing Format
Administrative Action
File Number
3-11815
Allegation Type
Investment Advisers/Investment Companies
Affiliations
- Former: Director—No Specific Position Named in Document at Columbia Management Advisors, Inc.
- Former: President at Columbia Fund Services Inc.
- Former: COO at Columbia Fund Services Inc.
- Former: Chief of Operations (prior to November 2001); officer of two adviser entities and head of Liberty's fund transfer agent (prior to November 2001); served as Chairman of Liberty Funds board of trustees (2001 to 2003 and remained as Chairman when became Columbia Funds) at Liberty Funds Group
Violations Alleged
Related Violations Alleged
Joseph Palombo is alleged to have aided and abetted Columbia Management Advisors, Inc.'s violation of Section 206(2) Advisers Act; Section 34(b) Investment Company Act (willfully/knowingly).
Resolutions
Bars:
- Bar on association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization for 6 months
- Prohibited from serving in various capacities for an advisory board, investment adviser or depositor of, or principal underwriter for, a registered investment company or affiliated person of such investment adviser, depositor, or principal underwriter for 6 months
First Resolution Date
09-Feb-2005
Headline Total Penalty and Disgorgement
$100,000
