Related Documents:
IA-2185
28-Oct-2003
Administrative Proceeding
SEC Institutes Administrative Proceeding Against Putnam Investment Management LLC In Connection With Self-Dealing in Putnam Mutual Funds By Two Managing Directors and Other Putnam Investment Professionals
On October 28, 2003, the SEC instituted administrative proceedings against Putnam Investment Management LLC. According to the SEC: "the Division of Enforcement (the Division) alleges that Putnam engaged in securities fraud by failing to disclose to the funds or to the fund boards the potentially self-dealing transactions in fund shares by [Justin M. Scott], [Omid Kamshad] and other employees."
IA-2192
13-Nov-2003
Administrative Proceeding
Order Making Findings and Imposing Partial Relief, Including a Final Censure Remedial Undertakings and a Cease and Desist Order Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940 and Section 9(b) and 9(f) of the Investment Company Act of 1940
On November 13, 2003, the SEC issued an order imposing partial relief against Putnam Investment Management, LLC, including final censure, remedial undertakings and a cease-and-desist order. According to the SEC: "Beginning in at least 1998, at least six Putnam employees who worked as investment management professionals engaged in excessive short-term trading of Putnam mutual funds in their personal accounts."
IA-2226
08-Apr-2004
Administrative Proceeding
Order Making Findings and Imposing Supplemental Remedial Sanctions Pursuant to Sections 203(e) of the Investment Advisers Act of 1940 and Section 9(b) of the Investment Company Act of 1940
On April 8, 2004, the SEC issued an order imposing supplemental remedial sanctions against Putnam Investment Management, LLC.
34-59041
02-Dec-2008
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The Commission stated: " it is ORDERED that the Commission staff shall arrange for the transfer of
$33,514,769.84 of the Fair Fund to Northern Trust Company, and the Plan Administrator shall distribute such monies, along with $13,000,532.54 in additional Fair Fund monies currently
being held at Northern Trust Company, to investors over a period of approximately two business
days beginning within one business day after the transfer, for a total second distribution of
$46,515,302.38, as provided in the Plan."
34-59447
25-Feb-2009
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The Commission ordered that: "the Commission staff shall arrange for the transfer of
$28,128,811.12 of the Fair Fund to Northern Trust Company, and the Plan Administrator shall
distribute such monies to investors over a period of approximately two business days beginning
within one business day after the transfer, as provided in the Plan."
34-59994
28-May-2009
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The Commission stated: "[I]t is ORDERED that the Commission staff shall arrange for the transfer of $4,199,306.98 of the Fair Fund to Northern Trust Company, and the Plan Administrator shall distribute such amount, plus an additional $46,622.46 from Fair Fund monies already being held at Northern Trust Company, to the payees identified in the Payment File for the fourth distribution beginning within one business day after such transfer, for a total fourth distribution of $4,245,929.44, as provided in the Plan".
34-60412
31-Jul-2009
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The SEC stated: "[I]t is ORDERED that the Commission staff shall arrange for the transfer of $19,354,093.35 of the Fair Fund to Northern Trust Company, and the Plan Administrator shall distribute such amount to the payees identified in the Payment File for the fifth distribution, over a period of approximately eight to ten (8-10) business days, beginning within one business day after such transfer."
34-61098
02-Dec-2009
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On December 2, 2009, the SEC ordered that "the Commission staff shall arrange for the transfer of $4,356,590.74 of the Fair Fund to Northern Trust Company, and the Plan Administrator shall distribute such amount to the payees identified in the Payment File for the sixth distribution beginning within one business day after such transfer."
34-61463
02-Feb-2010
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On February 2, 2010, the SEC ordered that "the Commission staff shall arrange for the transfer of $4,214,238.67 of the Fair Fund to Northern Trust Company, and the Plan Administrator shall distribute such amount to the payees identified in the Payment File for the seventh distribution over a period of approximately three (3) business days, beginning within one (1) business day after such transfer."
34-63221
01-Nov-2010
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On November 1, 2010, the SEC ordered that "the Commission staff shall arrange for the transfer of $2,641,841.14 of the Fair Fund to Northern Trust Company, and the Plan Administrator shall distribute such amount to the payees identified in the Payment File for the eighth distribution beginning within one (1) business day after such transfer."
34-64034
04-Mar-2011
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On March 4, 2011, the SEC ordered that "the Plan Administrator shall, beginning within one (1) business day after the issuance of this Order, distribute $1,045,492.65 to the payees identified in the Payment File for the ninth distribution. The ninth distribution will be made using monies currently being held in escrow at Northern Trust Company."
34-65243
01-Sep-2011
Administrative Proceeding
Order Directing Disbursement of Fair Fund Residual
On September 1, 2011, the SEC ordered that "the Commission staff shall arrange for the transfer of $10,052,040.97 of the Fair Fund to Northern Trust Company, and, beginning within one business day after such transfer, the Plan Administrator shall distribute such amount, plus the additional $36,059,018.56 of Fair Fund monies being held at Northern Trust Company, to the Putnam mutual funds identified in the payment file that Putnam has submitted to the Commission staff, for a total Residual distribution of $46,111,059.53. According to the SEC: "The Plan further provides that any monies remaining in the Fair Fund that are not able to be distributed directly to injured investors ('Residual') shall be distributed to the Putnam mutual funds harmed by the market timing activity.
34-65243A
12-Dec-2011
Administrative Proceeding
Amended Order Directing Disbursement of Fair Fund Residual
On December 12, 2011, the SEC ordered that "the Commission staff shall arrange for the transfer of $10,018,437.29 of the Fair Fund to Northern Trust Company, and, beginning within one business day after such transfer, the Plan Administrator shall distribute such amount, plus the additional $36,059,008.56 of Fair Fund monies being held at Northern Trust Company, to the Putnam mutual funds identified in the payment file that Putnam has submitted to the Commission staff, for a total Residual distribution of $46,007,445.85. According to the SEC: "The Plan further provides that any monies remaining in the Fair Fund that are not able to be distributed directly to injured investors ('Residual') shall be distributed to the Putnam mutual funds harmed by the market timing activity. This Order amends the SEC's prior September 1, 2011 Order.
34-67591
02-Aug-2012
Administrative Proceeding
Order Authorizing the Transfer of Residual 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 August 2, 2012, the SEC ordered that the "$1,380.84 balance in the Fair Fund and any future funds received by the Fair Fund shall be transferred to the U.S. Treasury". The SEC also ordered the discharge of the Fund Administrator and the termination of the Fair Fund.
IA-3600
03-May-2013
Administrative Proceeding
Order Modifying Order Making Findings and Imposing Partial Relief, Including a Final Censure, Remedial Undertakings and a Cease-and-Desist Order Pursuant to 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
According to the SEC: "Putnam has submitted an Amended Offer of Settlement ('Offer') proposed to relieve it of the obligations" imposed under the previous October 28, 2003 Order. On May 3, 2013, the SEC modified its previous October 28, 2003 Order against Putnam Investment Management, LLC as agreed to in the Offer.
