Defendant Name: AXA Advisors, LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: AXA UAP
SIC Code: 6311
CUSIP: 05453610

Initial Case Details

Legal Case Name In the Matter of AXA Advisors, LLC
First Document Date 20-Jan-2012
Initial Filing Format Administrative Action
File Number 3-14708
Allegation Type Broker Dealer

Violations Alleged

Other
• Failure to supervise under Section 15(b)(4)(E) Exchange Act

Resolutions

First Resolution Date 20-Jan-2012
Headline Total Penalty and Disgorgement $100,000

Related Documents:

34-66206 20-Jan-2012 Administrative Proceeding
Order Instituting Administrative Proceedings Pursuant to Section 15(b)(4) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions
On January 20, 2012, the SEC instituted settled administrative proceedings against AXA Advisors, LLC, stating: "Respondent failed reasonably to supervise Leo T. Buggy (“Buggy”) with a view to preventing and detecting his violations of the federal securities laws during the period December 2005 through December 2008. During this time period, Buggy fraudulently induced customers to redeem securities held at AXA Advisors, including variable annuities and mutual funds, under the false representation that the proceeds from such redemptions would be invested in other securities through AXA Advisors. Instead, Buggy caused customers to place those funds in a bank account controlled by Buggy, from which he misappropriated the funds. "

Related Actions:

In the Matter of Leo T. Buggy
Leo T. Buggy