Defendant Name: Wilmington Trust Investment Management, LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: M&T Bank Corporation
SIC Code: 6022
CUSIP: 55261F10

Initial Case Details

Legal Case Name In the Matter of Wilmington Trust Investment Management, LLC
First Document Date 10-Oct-2023
Initial Filing Format Administrative Action
File Number 3-21780
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 10-Oct-2023
Headline Total Penalty and Disgorgement $1,327,147

Related Documents:

IA-6455 10-Oct-2023 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 October 10, 2023, the SEC announced settled administrative and cease-and-desist proceedings against Wilmington Trust Investment Management, LLC after they "invested certain clients' assets in higher-cost mutual fund share classes than were otherwise available while failing to disclose the conflicts of interest associated with those investment recommendations."
IA-6455-s 10-Oct-2023 Administrative Summary
SEC Charges Investment Adviser for Failure to Disclose Conflicts and Duty of Care Violations
On October 10, 2023, the SEC "announced settled charges against Wilmington Trust Investment Management, LLC, a Delaware-based registered investment adviser, for breaches of its fiduciary duties."