Alliancebernstein Corporation

Allegations: THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES ALLEGED THAT AXA EQUITABLE LIFE INSURANCE COMPANY VIOLATED NEW YORK INSURANCE LAW SECTION 4240(E) BY FILING PLANS OF OPERATION WITH RESPECT TO CERTAIN OF ITS SEPARATE ACCCUONTS WITH THE NEW YORK STATE INSURANCE DEPARTMENT AND NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES (COLLECTIVELY, THE "DEPARTMENT") WITHOUT ADEQUATELY INFORMING AND EXPLAINING TO THE DEPARTMENT THE SIGNIFICANCE OF THE IMPLEMENTATION OF THE AXA TACTICAL MANAGER STRATEGY. Status: Final Sanction Detail: AXA EQUITABLE LIFE INSURANCE COMPANY CONSENTED TO THE IMPOSITION OF A CIVIL PENALTY ON MARCH 17, 2014 IN THE SUM OF $20,000,000, AGREED TO SEEK ALL NECESSARY APPROVALS WITH REGARD TO NEW YORK INSURANCE LAW SECTION 4240(E) AND AGREED TO PROVIDE DEPARTMENTAPPROVED COMMUNICATIONS TO POLICYHOLDERS WHEN AXA EQUITABLE LIFE INSURANCE COMPANY IS REVISING FUND CHOICES IN CONNECTION WITH THE AXA TACTICAL MANAGER STRATEGY AND TO COMPLY WITH ANY OTHER CONDITIONS PLACED ON SUCH APPROVALS. AXA EQUITABLE LIFE INSURANCE COMPANY ALSO AGREED TO ISSUE A WRITTEN REPORT TO THE DEPARTMENT CONCERNING CHANGES TO THE PLAN OF OPERATIONS FOR CERTAIN OF ITS SEPARATE ACCOUNTS ON A QUARTERLY BASIS FOR A PERIOD OF FIVE YEARS FROM MARCH 17, 2014. Summary: THE MATTER WAS SETTLED ON MARCH 17, 2014, THE DATE AXA EQUITABLE LIFE INSURANCE COMPANY ENTERED INTO A CONSENT ORDER WITH THE DEPARTMENT CONSENTING TO THE SANCTIONS LISTED ABOVE.

Allegations: ON JULY 2, 2008, THE NETHERLANDS AUTHORITY FOR THE FINANCIAL MARKETS (AFM) IMPOSED AN ADMINISTRATIVE FINE OF EUR 120,000 ON ALLIANCEBERNSTEIN CORPORATION THE GENERAL PARTNER OF ALLIANCEBERNSTEIN L.P. THE FINE CONCERNED THE UNTIMELY SUBMISSION OF FIVE BENEFICIAL OWNERSHIP REPORTS UNDER ARTICLE 5:38, SECTION 1, OF THE NETHERLANDS' FINANCIAL SUPERVISION ACT. THE FIRMS'S PAYMENT OF THE FINE RESOLVED THE AFM'S INQUIRY. Status: Final Sanction Detail: ON JULY 2, 2008, THE NETHERLANDS AUTHORITY FOR THE FINANCIAL MARKETS (AFM) IMPOSED AN ADMINISTRATIVE FINE OF EUR 120,000 ON ALLIANCEBERNSTEIN CORPORATION THE GENERAL PARTNER OF ALLIANCEBERNSTEIN L.P. THE FINE CONCERNED THE UNTIMELY SUBMISSION OF FIVE BENEFICIAL OWNERSHIP REPORTS UNDER ARTICLE 5:38, SECTION 1, OF THE NETHERLANDS' FINANCIAL SUPERVISION ACT. THE FIRMS'S PAYMENT OF THE FINE RESOLVED THE AFM'S INQUIRY. Summary: ON JULY 2, 2008, THE NETHERLANDS AUTHORITY FOR THE FINANCIAL MARKETS (AFM) IMPOSED AN ADMINISTRATIVE FINE OF EUR 120,000 ON ALLIANCEBERNSTEIN CORPORATION THE GENERAL PARTNER OF ALLIANCEBERNSTEIN L.P. THE FINE CONCERNED THE UNTIMELY SUBMISSION OF FIVE BENEFICIAL OWNERSHIP REPORTS UNDER ARTICLE 5:38, SECTION 1, OF THE NETHERLANDS' FINANCIAL SUPERVISION ACT. THE FIRMS'S PAYMENT OF THE FINE RESOLVED THE AFM'S INQUIRY.