Defendant Name: Credicorp Capital Advisors LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Credicorp Ltd.
SIC Code: 6029
CUSIP: G2519Y10

Initial Case Details

Legal Case Name In the Matter of Credicorp Capital Advisors LLC
First Document Date 12-Apr-2024
Initial Filing Format Administrative Action
File Number 3-21911
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Section 206(4) Advisers Act; Rule 206(4)-1(d) Advisers Act

Resolutions

First Resolution Date 12-Apr-2024
Headline Total Penalty and Disgorgement $30,000

Related Documents:

IA-6588 12-Apr-2024 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 April 12, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Credicorp Capital Advisors LLC, stating: "This matter involves failures by Credicorp, a registered investment adviser, to comply with amendments to Advisers Act Rule 206(4)-1 that the Commission adopted in December 2020 (the “Amended Marketing Rule”). From November 4, 2022, the compliance deadline for the Amended Marketing Rule, through June 8, 2023 (the “Relevant Period”), Credicorp advertised hypothetical performance on its public website without adopting and implementing policies and procedures reasonably designed to ensure that the hypothetical performance was relevant to the likely financial situation and investment objectives of the intended audience. As a result, Credicorp violated Section 206(4) of the Advisers Act and Rule 206(4)-1(d) thereunder."
2024-46_3-21911 12-Apr-2024 Press Release--Administrative Proceeding
SEC Charges Five Investment Advisers for Marketing Rule Violations
On April 12, 2024, the SEC "announced settled charges against five registered investment advisers for Marketing Rule violations. All five firms have agreed to settle the SEC's charges and to pay $200,000 in combined penalties."