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June 16, 2023

Posted  June 16, 2023

Pacific Investment Management Company LLC (PIMCO) has agreed to pay $9 million to settle two SEC enforcement actions.  In the first action, PIMCO was found to have failed to disclose material information to investors concerning the use of interest rate swaps by one of its funds, and the impact those swaps had on the funds’ dividend.  In the second action, PIMCO was found to have failed to comply with a fund’s agreement to waive approximately $27 million in advisory fees between 2011 and 2017, and maintain adequate policies and procedures concerning advisory fee calculations and waivers until 2018.  SEC

Tagged in: Financial and Investment Fraud,