Defendant Name: AIM Distributors, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: AMVESCAP PLC
SIC Code: 6282
CUSIP: 03235E10

Document Reference: 34-50506

Document Details

Legal Case Name In the Matter of Invesco Funds Group, Inc., AIM Advisors, Inc., and AIM Distributors, Inc.
Document Name Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 15(b) 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, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date 08-Oct-2004
Document Format Administrative Proceeding
File Number 3-11701
Allegation Type Investment Advisers/Investment Companies
Document Summary On October 8, 2004, the SEC instituted settled administrative and cease-and-desist proceedings against Invesco Funds Group, Inc. ("IFG"), AIM Advisors, Inc., and AIM Distributors, Inc. ("ADI"). According to the SEC: "This is a proceeding against IFG, AIM Advisors, and ADI based on market timing agreements that allowed certain individuals and entities to make frequent trades in the Invesco Funds advised by IFG and AIM Mutual Funds advised by AIM Advisors."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Fair Funds
Plan of Distribution
Monetary Penalties:

Disgorgement

Individual:     Shared:     $20,000,000.00
Shared with: AIM Advisors, Inc.

Civil Penalty

Individual:     $5,000,000.00 Shared:    

Related Documents:

34-56746 05-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 November 30, 2007."
34-56745 05-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 November 30, 2007."
34-56878 30-Nov-2007 Administrative Proceeding
Order Extending Time to Enter an Order Approving Or Disapproving Distribution Plan
The SEC stated: "IT IS ORDERED that: Pursuant to Rule 1104 of the Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1104, for good cause shown, the time for entering an Order approving or disapproving the proposed distribution plan is extended to December 28, 2007."
34-56877 30-Nov-2007 Administrative Proceeding
Order Extending Time to Enter an Order Approving Or Disapproving Distribution Plan
The SEC stated: "IT IS ORDERED that: Pursuant to Rule 1104 of the Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1104, for good cause shown, the time for entering an Order approving or disapproving the proposed distribution plan is extended to December 28, 2007."
34-59929 14-May-2009 Administrative Proceeding
Order Directing Disbursement of Fair Fund
The Commission ordered that: "the Commission staff shall transfer $54,699,314.96 of the AIM Fair Fund, $11,025,038.25 of the Banc of America Fair Fund and $12,442,622.97 of the Bear Stearns Fair Fund to Deutsche Bank and the Fund Administrator shall then distribute all such monies of $78,166,976.18 to investors, as provided for in the Plan."
2009-124 01-Jun-2009 Press Release--Administrative Proceeding
SEC Announces $78 Million Fair Fund Distribution to Harmed Investors in AIM Mutual Funds
The SEC " announced the Fair Fund distribution of more than $78 million to more than 590,000 investors who were affected by undisclosed market timing in certain AIM mutual funds."
34-62746 19-Aug-2010 Administrative Proceeding
Order Directing Disbursement
According to the SEC: "The Plan [of Distribution] provides that any monies not distributed directly to investors (the 'Residual'), less any remaining amounts needed for taxes and related expenses, shall be distributed to the AIM Funds in the same proportion as the amount of harm calculated on a fund by fund basis." On August 19, 2010, the SEC ordered that "the Fund Administrator shall disburse the Residual, in the amount stated in the validated payment file, of $13,141,658.77, as provided for in the Plan of Distribution."
34-69346 08-Apr-2013 Administrative Proceeding
Order Authorizing Transfer of Funds, Discharging Fund Administrator, and Terminating Fair Fund
On April 8, 2013, the SEC ordered the termination of the AIM Fair Fund and the discharge of Boston Financial Data Services, Inc. as the Fund Administrator. The SEC also ordered the transfer of $203,758.10 in residual funds to the U.S. Treasury. Lastly, the SEC order that "any funds returned in the future to the AIM Fair Fund be transferred to the U.S. Treasury."

Other Defendants in Action:

Invesco Funds Group, Inc.
AIM Advisors, Inc.

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