Defendant Name:
The Phoenix Companies Inc.
Defendant Type:
Public Company
SIC Code:
6311
CUSIP:
71902E60
Document Reference:
34-78341
Document Details
Legal Case Name
In the Matter of The Phoenix Companies, Inc.
Document Name
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
Document Date
15-Jul-2016
Document Format
Administrative Proceeding
AAER
3789
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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".
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$600,000.00
Shared:
