Defendant Name: Hancock Whitney Investment Services, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Hancock Whitney Corporation
SIC Code: 6022
CUSIP: 41012010

Initial Case Details

Legal Case Name In the Matter of Hancock Whitney Investment Services, Inc.
First Document Date 25-Sep-2020
Initial Filing Format Administrative Action
File Number 3-20074
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 206(2), 206(4) Advisers Act; Rule 206(4)-7 Advisers Act

Resolutions

First Resolution Date 25-Sep-2020
Headline Total Penalty and Disgorgement $2,337,792

Related Documents:

34-90004 25-Sep-2020 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing a Remedial Sanctions and a Cease-and-Desist Order
On September 25, 2020, the SEC instituted settled cease-and-desist proceedings against Hancock Whitney Investment Services, Inc. The Commission stated: "These proceedings arise out of breaches of fiduciary duty by HWIS, a dually-registered investment adviser and broker-dealer, in connection with its mutual fund share class selection practices that resulted in its receipt of three types of fees from its advisory clients’ investments at times from January 2014 through May 2017."
34-90004-s 25-Sep-2020 Administrative Summary
Advisory Firm Settles Charges Related to Mutual Fund Share Class Selection, Agrees to Repay Clients
The SEC stated that: "[It] settled charges against Hancock WhitneyInvestment Services, Inc., a registered investment adviser and broker-dealer based in New Orleans, Louisiana, arising out of its mutual fund and money market share class selection practices. HWIS will distribute the fees it received as a result of its share class selection practices to harmed clients."