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.
First Document Date 15-Jul-2016
Initial Filing Format Administrative Action
File Number 3-17345
Allegation Type Issuer Reporting and Disclosure
AAER 3789

Violations Alleged

Exchange Act
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)

Resolutions

First Resolution Date 15-Jul-2016
Headline Total Penalty and Disgorgement $600,000

Related Documents:

34-78341 15-Jul-2016 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 and Penalties
On July 15, 2016 the SEC instituted a settled administrative proceeding against The Phoenix Companies, Inc. Phoenix discovered dozens of errors in its financial reports for the years 2009-2011, "including basic errors in its calculations, assumptions, and application of accounting guidance". Some of the errors "were due to improper accounting determinations". Others reflected carelessness in the implementation of Phoenix's accounting systems. Thus Phoenix "violated the reporting, internal accounting controls, and books-and-records provisions of the federal securities laws".
34-78341-s 15-Jul-2016 Administrative Proceeding
Insurance Company Settles Charges Due to Accounting Errors
On July 15, 2016, the SEC issued a press release announcing that The Phoenix Companies, Inc. "has agreed to pay $600,000 to settle charges that it violated the reporting, internal accounting controls, and books-and-records provisions of the federal securities laws based on accounting errors identified as part of the company's announced restatement."