Defendant Name:
AmSouth Asset Management, Inc. (n/k/a Morgan Asset Management)
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
AmSouth Bancorporation
SIC Code:
6022
CUSIP:
03216510
Document Reference:
IA-2784A
Document Details
Legal Case Name
In the Matter of AmSouth Bank, N.A. (now known as Regions Bank), and AmSouth Asset Management, Inc. (now known as Morgan Asset Management)
Document Name
Corrected Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to 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
23-Sep-2008
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On September 23, 2008, the SEC instituted settled administrative and cease-and-desist proceedings against AmSouth Bank, N.A. and AmSouth Asset Management, Inc. ("Respondents"). The SEC stated: "These proceedings arise out of improper and undisclosed arrangements between AmSouth Bank, N.A. and AmSouth Asset Management, Inc. (collectively "AmSouth"), investment advisers to the AmSouth Funds, and BISYS Fund Services, Inc. ("BISYS"), a mutual fund administrator."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Fair Funds
Plan of Distribution
Monetary Penalties:
Disgorgement
Individual:
Shared:
$7,789,282.00
Shared with: AmSouth Bank, N.A. (n/k/a Regions Bank)
Civil Penalty
Individual:
Shared:
$1,500,000.00
Shared with: AmSouth Bank, N.A. (n/k/a Regions Bank)
Pre-Judgment Interest
Individual:
Shared:
$2,198,952.81
Shared with: AmSouth Bank, N.A. (n/k/a Regions Bank)
Total Penalty
Individual:
Shared:
$11,488,234.81
Shared with: AmSouth Bank, N.A. (n/k/a Regions Bank)
Other Defendants in Action:
