Related Documents:
33-8538
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 Banc of America Capital Management, LLC, BACAP Distributors, LLC, and Banc of America Securities, LLC. According to the SEC: "From as early as July 2000 and continuing through July 2003, Banc of America Capital Management, LLC ('BACAP') and its predecessor entity Banc of America Advisers, LLC, the investment adviser to all mutual funds, or series, in the Nations Funds mutual fund complex (the 'Nations Funds') as well as BACAP Distributors, LLC ('BACAP Distributors'), the distributor and administrator for Nations Funds, allowed certain market timing clients to engage in short-term or excessive trading and never disclosed this fact to other investors."
34-56783
13-Nov-2007
Administrative Proceeding
Order Extending Time To Enter An Order Approving Or Disapproving Distribution Plan
The Commission ordered that: "for good cause shown, the time for entering an Order approving or disapproving the
proposed distribution plan is extended to December 4, 2007."
34-57048
27-Dec-2007
Administrative Proceeding
ORDER APPROVING THE DISTRIBUTION PLAN
The SEC approves the Distribution Plan with such relevant modifications and approves the appointment of Rust Consulting, Inc. as the Fund Administrator. This is pursuant to the SEC's institution of settled administrative and cease-and-desist proceedings against Banc of America Capital Management, LLC ("BACAP"), BACAP Distributors, LLC ("BACAP Distributors"), and Banc of America Securities, LLC ("BAS") (collectively, "Respondents") for violations of the federal securities laws in connection with market timing and late trading in the Nations mutual fund complex and the subsequent Order provided for the payment of disgorgement and civil penalties totaling $375 million and the establishment of a fair fund (the "BOA Fair Fund").
34-57048-dp
27-Dec-2007
Administrative Proceeding
PLAN OF DISTRIBUTION
The SEC stated: "The Independent Distribution Consultant of submits this proposed plan of distribution (the "Plan") . . . As described more specifically below, the Plan provides for the distribution of funds collected in the above-captioned matter to compensate the Nations Funds Shareholders harmed by anti-fraud securities violations of BACAP Distributors, LLC ("BACAP Distributors") that "allowed certain market timing clients to engage in short-term or excessive trading and never disclosed this fact to other investors and also entered into arrangements with two entities, allowing them to engage in frequent short-term trading in at least 13 Nations Funds mutual funds ... despite knowing that such trading could be detrimental to Nations Funds' shareholders"
34-58896
03-Nov-2008
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The SEC stated: "[I]t is ORDERED that the Commission staff shall transfer $23,825,205.86 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."
34-59520
05-Mar-2009
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The Commission stated that: "the Commission staff shall transfer $14,734,968.83 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."
34-60080
09-Jun-2009
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The Commission stated: "it is ORDERED that the Commission staff shall transfer $17,511,119.22 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."
34-61088
01-Dec-2009
Administrative Proceeding
Order Directing Disbursement of Fair fund
On December 1, 2009, the SEC issued an Order Directing Disbursement of Fair Fund. Previously, on December 27, 2007, the SEC approved a Plan of Distribution. According to the SEC: "The Plan provides that a Fair Fund consisting of $375,000,000 in disgorgement and civil penalties, plus any accrued interest, be transferred to Deutsche Bank to be distributed by the Plan Administrator to injured investors according to the methodology set forth in the Plan." The December 1, 2009 order was for the sixth distribution as part of the Plan in the amount of $13,054,368.91.
34-62212
03-Jun-2010
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On June 3, 2010, the SEC issued an Order Directing Disbursement of Fair Fund. The Order related to the seventh distribution from the Fair Fund in the amount of $10,478,066.61.
34-63360
23-Nov-2010
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On November 23, 2010, the SEC issued an Order Directing Disbursement of Fair Fund. The Order related to the eighth distribution from the Fair Fund in the amount of $3,047,283.83.
34-64606
06-Jun-2011
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On June 6, 2011, the SEC issued an Order Directing Disbursement of Fair Fund. The Order related to the ninth distribution from the Fair Fund in the amount of $5,251,498.94.
33-9254
30-Aug-2011
Administrative Proceeding
Order Modifying 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 August 30, 2011, the SEC ordered the amendment of its earlier 2005 Order against Banc of America Capital Management, LLC, BACAP Distributors, LLC, and Banc of America Securities, LLC.
34-67415
11-Jul-2012
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On July 11, 2012, the SEC ordered that "the Commission staff shall transfer $24,826,874.15 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."
34-68208
09-Nov-2012
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On November 9, 2012, the SEC ordered that "the Commission staff shall transfer $9,036,325.11 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."
34-70082
31-Jul-2013
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On July 31, 2013, the SEC issued an Order Directing Disbursement of Fair Fund. The Order provided that: "the Commission staff shall transfer $13,756.827.09 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." The transfer represented the thirteenth distribution from the Fair Fund. Previously, on December 27, 2007, the SEC approved the Plan of Distribution.
33-9971
29-Oct-2015
Administrative Proceeding
Order Modifying 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 October 29, 2015, the SEC amended a prior 2005 Order to reflect a proposed Amended Offer of Settlement submitted by Banc of America Capital Management, LLC and BACAP Distributors, LLC (the "BACM Entities"). Pursuant to the October 29, 2015 Modifying Order, the SEC eliminated various undertakings from the 2005 Order requiring that: "(1) each of the Nations Funds mutual funds hold a shareholders meeting every five years to elect its board of trustees...; (2) each of the Nations Funds mutual funds designate an independent compliance officer reporting to its board of trustees...; and (3) the BACM Entities maintain an Internal Compliance Controls Committee...."
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.
34-82133
20-Nov-2017
Administrative Proceeding
Order Directing Disbursement of Fair Fund
According to the SEC: "[I]t is ORDERED that the Fund Administrator shall distribute $36,335,607.45 to the Eligible Funds and transfer the remaining $4,701,533.78 in Fair Fund assets at Deutsche Bank to the Commission's Office of Financial Management, as provided for in the Plan."
34-84232
20-Sep-2018
Administrative Proceeding
Order Directing Transfer of Remaining Funds and any Future Funds Received by the Fair Fund to the U.S. Treasury, Discharging the Fund Administrator, and Terminating the Fair Fund
The Commission stated that: "Accordingly, it is ORDERED that: 1. The remaining funds in the Fair Fund in the amount of $49,747,926.17 and any future funds received by the Fair Fund shall be transferred to the U.S. Treasury; 2. The Fund Administrator is discharged; and 3. The Fair Fund is terminated."
