Defendant Name: Ares Management LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Ares Management Corporation
SIC Code: 6282
CUSIP: 03990B10

Initial Case Details

Legal Case Name In the Matter of Ares Management LLC
First Document Date 26-May-2020
Initial Filing Format Administrative Action
File Number 3-19812
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 204A, 206(4) Advisers Act; Rule 206(4)-7 Advisers Act

Resolutions

First Resolution Date 26-May-2020
Headline Total Penalty and Disgorgement $1,000,000

Related Documents:

IA-5510 26-May-2020 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On May 26, 2020, the SEC instituted settled cease-and-desist proceedings against Ares Management LLC. The SEC stated: "These proceedings arise out of Ares' failure, during 2016, to implement and enforce certain of its written policies and procedures reasonably designed, taking into consideration the nature of its business, to prevent the misuse of potentially material nonpublic information ("MNPI") that it had obtained: (i) as an insider, by virtue of its representation on the board of directors of a listed issuer in its investment portfolio ("Portfolio Company") and (ii) pursuant to confidentiality provisions in a loan agreement between Ares and the Portfolio Company."
2020-123 26-May-2020 Press Release--Administrative Proceeding
Private Equity Firm Ares Management LLC Charged With Compliance Failures
The SEC stated that: "Ares Management LLC, a Los Angeles-based private equity firm and registered investment adviser, has agreed to pay one million dollars to settle charges that it failed to implement and enforce policies and procedures reasonably designed to prevent the misuse of material nonpublic information."