Defendant Name:
Invesco Funds Group, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
AMVESCAP PLC
SIC Code:
6282
CUSIP:
03235E10
Initial Case Details
Legal Case Name
In the Matter of Invesco Funds Group, Inc., AIM Advisors, Inc., and AIM Distributors, Inc.
First Document Date
08-Oct-2004
Initial Filing Format
Administrative Action
File Number
3-11701
Allegation Type
Investment Advisers/Investment Companies
Violations Alleged
•
Sections 206(1), 206(2) Investment Advisers Act; Section 17(d), 34(b) Investment Company Act; Rule 17d-1 Investment Company Act
Resolutions
First Resolution Date
08-Oct-2004
Headline Total Penalty and Disgorgement
$375,000,000
Related Documents:
34-50506
08-Oct-2004
Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On October 8, 2004, the SEC instituted settled administrative and cease-and-desist proceedings against Invesco Funds Group, Inc. ("IFG"), AIM Advisors, Inc., and AIM Distributors, Inc. ("ADI"). According to the SEC: "This is a proceeding against IFG, AIM Advisors, and ADI based on market timing agreements that allowed certain individuals and entities to make frequent trades in the Invesco Funds advised by IFG and AIM Mutual Funds advised by AIM Advisors."
34-56745
05-Nov-2007
Administrative Proceeding
Order Extending Time to Enter an Order Approving or Disapproving Distribution Plan
The Commission ordered that: "for good cause shown, the time for entering an Order approving or disapproving the
proposed distribution plan is extended to November 30, 2007."
34-56878
30-Nov-2007
Administrative Proceeding
Order Extending Time to Enter an Order Approving Or Disapproving Distribution Plan
The SEC stated: "IT IS ORDERED that: Pursuant to Rule 1104 of the Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1104, for good cause shown, the time for entering an Order approving or disapproving the proposed distribution plan is extended to December 28, 2007."
2009-124
01-Jun-2009
Press Release--Administrative Proceeding
SEC Announces $78 Million Fair Fund Distribution to Harmed Investors in AIM Mutual Funds
The SEC " announced the Fair Fund distribution of more than $78
million to more than 590,000 investors who were affected by undisclosed
market timing in certain AIM mutual funds."
34-60292A
20-Nov-2009
Administrative Proceeding
Amended Order Directing Disbursement of Fair Fund
On November 20, 2009, the SEC issued an Amended Order Directing Disbursement of Fair Fund.
34-64472
11-May-2011
Administrative Proceeding
Order Amending Distribution Plan and Directing Disbursement
On May 11, 2011, the SEC ordered the amendment of the distribution plan for the Fair Fund. The SEC also ordered that: "The Fund Administrator shall disburse the Residual ... to the affected Invesco Funds in the amount stated in the validated payment file of $57,821,352.37". According to the SEC: "The current balance of the Fair Fund less the Reserved Amount shall be considered the Residual and shall be distributed to the affected Invesco Funds in accordance with the Plan." The SEC also ordered that: "The Fund Administrator shall disburse payments to the 58 eligible investors ... from the IFG Fair Fund based on the IDC [Independent Distribution Consultant]'s use of the approved alternative distribution methodology in the amount stated in the validated payment file of $26,838.97." According to the SEC: "After the Fund Administrator had distributed the Fair Fund monies ... following the Commission's November 20, 2009 Order, the IDC determined that fifty-eight (58) additional investors were eligible to receive a distribution under this process...."
34-69375
15-Apr-2013
Administrative Proceeding
Order Amending May 11, 2011 Order
On April 15, 2013, the SEC entered an Order amending its earlier May 11, 2011 Order. The SEC ordered the amendment of the distribution plan for the Fair Fund. The SEC also ordered that: "The Fund Administrator shall disburse the Residual ... to the affected Invesco Funds in the amount stated in the validated payment file of $57,821,352.37". According to the SEC: "The current balance of the Fair Fund less the Reserved Amount shall be considered the Residual and shall be distributed to the affected Invesco Funds in accordance with the Plan." The SEC also ordered that: "The Fund Administrator shall disburse payments to the 58 eligible investors ... from the IFG Fair Fund based on the IDC [Independent Distribution Consultant]'s use of the approved alternative distribution methodology in the amount stated in the validated payment file of $26,838.97." According to the SEC: "After the Fund Administrator had distributed the Fair Fund monies ... following the Commission's November 20, 2009 Order, the IDC determined that fifty-eight (58) additional investors were eligible to receive a distribution under this process...."
34-70825
06-Nov-2013
Administrative Proceeding
Order Authorizing Transfer of Remaining Funds and Any Future Funds Received by the Fair Fund to the U.S. Treasury, Discharging the Fund Administrator, and Terminating the Fair Fund
On November 6, 2013, the SEC ordered the termination of the Invesco Funds Group ("IFG") Fair Fund and the discharge of the Fund Administrator. The SEC also ordered that: "The remaining funds of $5,433,979.05 in the Fair Fund shall be transferred to the U.S. Treasury, and any future funds received by the Fair Fund shall also be transferred to the U.S. Treasury". According to the SEC, "the IFG Modified Plan provides that the Fair Fund is eligible for termination after the final accounting has been submitted by the Fund Administrator and approved by the Commission and all taxes and fees have been paid.... The staff of the Commission has verified that all taxes and fees have been paid and that the Commission is in possession of the remaining funds."
Other Defendants in Action:
