Defendant Name:
PNC Investments LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
The PNC Financial Services Group, Inc.
SIC Code:
6021
CUSIP:
69347510
Document Reference:
34-83004
Document Details
Legal Case Name
In the Matter of PNC Investments LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and 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
Document Date
06-Apr-2018
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On April 6, 2018, the SEC issued an order against PNC Investments LLC, stating: "These proceedings arise out of improper mutual fund share class selection and billing practices by PNCI, a registered investment adviser and broker-dealer."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$5,732,000.00
Shared:
Civil Penalty
Individual:
$900,000.00
Shared:
Pre-Judgment Interest
Individual:
$675,770.00
Shared:
