Defendant Name: AXA Rosenberg Investment Management LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: AXA UAP
SIC Code: 6311
CUSIP: 05453610

Initial Case Details

Legal Case Name In the Matter of AXA Rosenberg Group LLC, AXA Rosenberg Investment Management LLC, and Barr Rosenberg Research Center LLC
First Document Date 03-Feb-2011
Initial Filing Format Administrative Action
File Number 3-14224
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Section 206(2) Advisers Act

Resolutions

First Resolution Date 03-Feb-2011
Headline Total Penalty and Disgorgement $25,000,000

Related Documents:

33-9181 03-Feb-2011 Administrative Proceeding
Corrected Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933, Section 9(b) of the Investment Company Act of 1940, and Sections 203(e), 203(f), and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On February 3, 2011, the SEC instituted settled administrative and cease-and-desist proceedings against AXA Rosenberg Group LLC (“ARG”), AXA Rosenberg Investment Management LLC (“ARIM”), and Barr Rosenberg Research Center LLC (“BRRC”) (collectively, “Respondents”), stating: "This case involves an institutional money manager specialized in quantitative investment strategies that concealed from investors a material error in its computer code in violation of the federal securities laws."
2011-37 03-Feb-2011 Press Release--Administrative Proceeding
SEC Charges AXA Rosenberg Entities for Concealing Error in Quantitative Investment Model
On February 3, 2011, the SEC stated that: "[It] charged three AXA Rosenberg entities with securities fraud for concealing a significant error in the computer code of the quantitative investment model that they use to manage client assets. The error caused $217 million in investor losses. AXA Rosenberg Group LLC (ARG), AXA Rosenberg Investment Management LLC (ARIM), and Barr Rosenberg Research Center LLC (BRRC) have agreed to settle the SEC's charges by paying $217 million to harmed clients plus a $25 million penalty, and hiring an independent consultant with expertise in quantitative investment techniques who will review disclosures and enhance the role of compliance personnel."

Other Defendants in Action:

AXA Rosenberg Group LLC
Barr Rosenberg Research Center LLC