Defendant Name:
LendingClub Asset Management, LLC
Defendant Type:
Subsidiary of Public Company
Document Reference:
2018-223
Document Details
Legal Case Name
In the Matter of LendingClub Asset Management, LLC, f/k/a LC Advisors, LLC, Renaud Laplanche, and Carrie Dolan
Document Name
SEC Charges LendingClub Asset Management and Former Executives With Misleading Investors and Breaching Fiduciary Duty
Document Date
28-Sep-2018
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
The Commission stated that: "The Securities and Exchange Commission today charged San Francisco based LendingClub Asset Management LLC (formerly known as LendingClub Advisors LLC) and its former president Renaud Laplanche with fraud for improperly using fund money to benefit LendingClub Corporation, LCA’s parent company that Laplanche founded and for which he served as CEO. LCA and Laplanche along with Carrie Dolan, LCA’s former CFO, also were charged with improperly adjusting fund returns."
Disgorgement & Penalty Information
Resolutions
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Civil Penalty
Individual:
$4,000,000.00
Shared:
Other Defendants in Action: