Defendant Name:
Columbia Management Advisors, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Bank of America Corporation
SIC Code:
6021
CUSIP:
06050510
Initial Case Details
Legal Case Name
In the Matter of Columbia Management Advisors, Inc. and Columbia Funds Distributor, Inc.
First Document Date
09-Feb-2005
Initial Filing Format
Administrative Action
File Number
3-11814
Allegation Type
Investment Advisers/Investment Companies
Violations Alleged
•
Sections 204A, 206(1), 206(2) Investment Advisers Act; Sections 17(d), 34(b) Investment Company Act; Rule 17d-1 Investment Company Act
Additionally,
Columbia Funds Distributor, Inc. is alleged to have aided and abetted Columbia Management Advisors, Inc.'s violation of Sections 206(1), 206(2) Investment Advisers Act; Section 34(b) Investment Company Act (willfully/knowingly).
Columbia Funds Distributor, Inc. is alleged to have caused Columbia Management Advisors, Inc.'s violation of Sections 206(1), 206(2) Investment Advisers Act; Section 34(b) Investment Company Act.
Resolutions
First Resolution Date
09-Feb-2005
Headline Total Penalty and Disgorgement
$140,000,000
Related Documents:
33-8534
09-Feb-2005
Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933, Sections 15(b) and 21C 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
On February 9, 2005, the SEC instituted settled administrative and cease-and-desist proceedings against Columbia Management Advisors, Inc. and Columbia Funds Distributor, Inc. According to the SEC: "From at least 1998 through October 2003, Columbia Advisors and some of its predecessor entities ('Columbia Advisors'), the investment adviser to over 140 of the mutual funds in the Columbia mutual fund complex (the 'Columbia Funds'), and Columbia Distributor, the principal underwriter and distributor of those funds, violated antifraud provisions of the securities laws by allowing certain preferred customers to engage in short-term or excessive trading, contrary to the restrictions and/or representations set forth in the Columbia Funds' prospectuses, that was detrimental to Columbia Funds but benefited respondents without disclosing these trading arrangements to fund shareholders or to fund trustees."
34-56857
28-Nov-2007
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The SEC stated: "it is ORDERED that the Commission staff shall transfer $35,649,884.11 of the Fair Fund to Deutsche Bank and the Plan Administrator shall distribute such monies to investors, as provided for in the Plan of Distribution."
34-57422
03-Mar-2008
Administrative Proceeding
Order Directing Disbursement of Fair Fund
34-58939
13-Nov-2008
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The SEC stated: "[I]t is ORDERED that the Commission staff shall transfer $37,674,192.60 of the Fair Fund to Deutsche Bank and the Plan Administrator shall distribute such monies to investors, as provided for in the Plan of Distribution"
34-62058
06-May-2010
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On May 6, 2010, the SEC ordered that "the Plan Administrator shall distribute to investors $19,999,962.62 in funds held at Deutsche Bank, as provided for in the Plan of Distribution."
34-65122
12-Aug-2011
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On May 6, 2010, the SEC ordered that "the Commission staff shall transfer $6,731,994.53 of the Fair Fund to Deutsche Bank and the Plan Administrator shall distribute such monies to investors, along with $4,183,792.03 in funds held at Deutsche Bank, as provided for in the Plan of Distribution."
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.
34-81961
26-Oct-2017
Administrative Proceeding
Order Directing Disbursement
"Accordingly, it is ORDERED that A. the Commission staff shall transfer $116,179.71 to Deutsche Bank and the Fund Administrator shall distribute this sum, along with $2,888,954.32 in funds held at Deutsche Bank for a total distribution of $3,005,134.03, in accordance with the Plan; and B. the remaining funds in the amount of $29,071.75 shall be sent to the U.S. Treasury."
Other Defendants in Action:
