Defendant Name: WL Ross & Co. LLC 

Defendant Type: Subsidiary of Public Company
Public Company Parent: Invesco Ltd.
SIC Code: 6282
CUSIP: G491BT10

Initial Case Details

Legal Case Name In the Matter of WL Ross & Co. LLC
First Document Date 24-Aug-2016
Initial Filing Format Administrative Action
File Number 3-17491
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 206(2), 206(4) Advisers Act; Rule 206(4)-8 Advisers Act

Resolutions

First Resolution Date 24-Aug-2016
Headline Total Penalty and Disgorgement $2,300,000

Related Documents:

IA-4494 24-Aug-2016 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing a Cease-and-Desist Order
On August 24, 2016, the SEC instituted a settled administrative proceeding against WL Ross & Co. LLC. According to the SEC, these proceedings arise from “the failure of private equity fund adviser WL Ross to disclose its fee allocation practices to certain private equity funds it advised (the “WLR Funds”) and their investors, which resulted in the WLR Funds paying higher management fees between 2001 and 2011.”
IA-4494-s 24-Aug-2016 Administrative Summary
Private Equity Fund Adviser Settles with SEC for Failing to Disclose its Fee Allocation Practices
On August 24, 2016, the SEC announced that WL Ross & Co. LLC "has agreed to settle charges that it failed to disclose its fee allocation practices to certain funds it advised (the WLR Funds) and their investors, which resulted in the WLR Funds paying WL Ross approximately $10.4 million in additional management fees between 2001 and 2011."