Defendant Name:
FTN Financial Securities Corp.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
First Horizon National Corporation
SIC Code:
6021
CUSIP:
32051710
Document Reference:
IA-3316
Document Details
Legal Case Name
In the Matter of FTN Financial Securities Corp.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
17-Nov-2011
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On November 17, 2011, the SEC instituted settled administrative and cease-and-desist proceedings against FTN Financial Securities Corp. According to the SEC: "The case concerns a transaction between FTN and Sentinel Management Group, Inc. ('Sentinel') through which FTN was a cause of Sentinel's failure to maintain true, accurate and current books and records relating to its securities transaction liabilities in its year-end 2006 financial statements, which were used by Sentinel as part of its fraud against its advisory clients."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Various undertakings
Monetary Penalties:
Disgorgement
Individual:
$1,495,878.00
Shared:
Pre-Judgment Interest
Individual:
$377,758.73
Shared:
