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Violation Tracker Individual Record

Company: Friedman, Billings, Ramsey & Co., Inc.
Current Parent Company: Arlington Asset Investment Corp.
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $4,000,000
Year: 2006
Date: December 20, 2006
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: Friedman, Billings, Ramsey & Co., Inc. agreed to pay $4 million to NASD to resolve charges relating to improper trading in shares of Compudyne Corporation. It also paid another $3.8 million to the SEC; see (click here)
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Virginia
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: investment management
Source of Data: FBR to Pay Regulators $7.7 Million to Resolve Charges Related to Improper Short Selling of Compudyne PIPE Shares, PR Newswire, December 20, 2006 (via Nexis).
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.