Defendant Name:
GLG Partners, L.P.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
GLG Partners, Inc.
SIC Code:
6282
CUSIP:
37929X10
Initial Case Details
Legal Case Name
In the Matter of GLG Partners Inc. and GLG Partners, L.P.
First Document Date
12-Dec-2013
Initial Filing Format
Administrative Action
File Number
3-15641
Allegation Type
Issuer Reporting and Disclosure
AAER
3516
Violations Alleged
Additionally,
GLG Partners, Inc. is alleged to have caused GLG Partners, L.P.'s violation of Rule 12b-20 of the Exchange Act.
GLG Partners, Inc. is alleged to have caused GLG Partners, L.P.'s violation of Sec 13(a) of the Exchange Act.
GLG Partners, Inc. is alleged to have caused GLG Partners, L.P.'s violation of Rule 13a-1 of the Exchange Act.
GLG Partners, Inc. is alleged to have caused GLG Partners, L.P.'s violation of Rule 13a-11 of the Exchange Act.
GLG Partners, Inc. is alleged to have caused GLG Partners, L.P.'s violation of Rule 13a-13 of the Exchange Act.
GLG Partners, Inc. is alleged to have caused GLG Partners, L.P.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
GLG Partners, Inc. is alleged to have caused GLG Partners, L.P.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Related Violations Alleged
GLG Partners, L.P. is alleged to have caused
GLG Partners, Inc.'s violation of Sec 13(a) of the Exchange Act.
GLG Partners, L.P. is alleged to have caused
GLG Partners, Inc.'s violation of Rule 13a-1 of the Exchange Act.
GLG Partners, L.P. is alleged to have caused
GLG Partners, Inc.'s violation of Rule 13a-13 of the Exchange Act.
GLG Partners, L.P. is alleged to have caused
GLG Partners, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
GLG Partners, L.P. is alleged to have caused
GLG Partners, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Resolutions
First Resolution Date
12-Dec-2013
Headline Total Penalty and Disgorgement
$8,954,346
Related Documents:
34-71050
12-Dec-2013
Administrative Proceeding
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
On December 12, 2013, the SEC filed a settled administrative proceeding against GLG Partners, Inc. and GLG Partners, L.P. According to the SEC: "This matter involves investment adviser GLG's failure to maintain sufficient controls relating to the valuation of fund assets."
2013-259
12-Dec-2013
Press Release--Administrative Proceeding
SEC Charges London-Based Hedge Fund Adviser and U.S.-Based Holding Company for Internal Control Failures
The Commission stated: "a London-based hedge fund adviser and its former U.S.-based holding company with internal controls failures that led to the overvaluation of a fund's assets and inflated fee revenue for the firms."
34-71544
12-Feb-2014
Administrative Proceeding
Order Appointing Tax Administrator
On February 12, 2014, the SEC approved the appointment of Damasco and Associates LLP as the Tax Administrator for the Qualified Settlement Fund.
34-71590
20-Feb-2014
Administrative Proceeding
Extension Order
On February 20, 2014, the SEC granted the Division of Enforcement's request for an extension of time until June 18, 2014 to submit a Proposed Plan of Distribution.
34-72247
23-May-2014
Administrative Proceeding
Order Appointing Fund Plan Administrator and Setting Administrator Bond Amount
On May 23, 2014, the SEC issued an Order Appointing Fund Plan Administrator and Setting Administrator Bond Amount.
34-72430
19-Jun-2014
Administrative Proceeding
Extension Order
On June 19, 2014, the Commission has ordered that "the Division's request for an extension of time until September 18, 2014 to submit a Proposed Plan of Distribution is granted."
34-73155
19-Sep-2014
Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
On September 19, 2014, the SEC published a notice of proposed plan of distribution and opportunity to comment. The proposed plan allocated the Fair Fund by "dividing a harmed investor's present values of incorrectly collected fees by the aggregate amount of all harmed investors' present value of such fees multiplied by the total amount of the present value of all incorrectly collected fees."
Proposed Plan of Distribution
On September 19, 2014, the SEC published a proposed plan of distribution of funds collected from the disgorgement, prejudgment interest, and civil monetary penalties paid by GLG Partners, Inc. and GLG Partners L.C. as a result of charging inflated or excess management fees to investors.
34-73423
24-Oct-2014
Administrative Proceeding
Order Approving Plan of Distribution
On October 24, 2014, the SEC approved the Division of Enforcement's request to approve the Plan of Distribution related to a previous order instituted against respondents.
Plan of Distribution
Pursuant to a Commission order issued on December 12, 2013 requiring respondents to pay disgorgement, prejudgment interest, and civil monetary penalties, the SEC proposed a plan of distribution.
34-75706
14-Aug-2015
Administrative Proceeding
Order Approving Application of Fund Administrator for Payment of Fees and Expenses
On August 14, 2015, the SEC approved its application for payment of fees and expenses to a designated fund administrator from the Fair Fund previously established in this action.
34-76722
21-Dec-2015
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On December 21, 2015, the SEC ordered Commission staff to direct the payment of $8,406,000 from the Fair Fund to The Huntington National Bank, and that the Fair Fund Administrator shall distribute the funds to eligible clients according to the plan. the Commission previously had issued Notice of the Proposed Plan of Distribution on September 9, 2014.
Notice of Name Change of Appointed Tax Administrator
On June 30, 2017, the SEC announced a Name Change of Appointed Tax Administrator, and amended the Omnibus Order, beginning June 2017 and for calendar year 2018, to replace all references to Damasco with "Miller Kaplan Arase LLP which acquired Damasco & Associates LLP" in order to reflect Damasco's name change.
34-85044
04-Feb-2019
Administrative Proceeding
Order Authorizing the Transfer of Remaining Funds and Any Future Funds Returned to the Fair Fund to the U.S. Treasury, Discharging Fund Administrator, Canceling Administrator's Bond, and Terminating the Fair Fund
On February 4, 2019, the SEC stated: "IT IS ORDERED that: A. The $1,301,599.97 remaining in the Fair Fund and any future funds returned to the Fair Fund, shall be transferred to the U.S. Treasury; B. The Fund Administrator's bond is cancelled; C. The Fund Administrator, Boston Financial Data Services, Inc., is discharged; and D. The Fair Fund is terminated."
Other Defendants in Action:
