Defendant Name:
Ares Management LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Ares Management Corporation
SIC Code:
6282
CUSIP:
03990B10
Document Reference:
IA-5510
Document Details
Legal Case Name
In the Matter of Ares Management LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to 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
26-May-2020
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On May 26, 2020, the SEC instituted settled cease-and-desist proceedings against Ares Management LLC. The SEC stated: "These proceedings arise out of Ares' failure, during 2016, to implement and enforce certain of its written policies and procedures reasonably designed, taking into consideration the nature of its business, to prevent the misuse of potentially material nonpublic information ("MNPI") that it had obtained: (i) as an insider, by virtue of its representation on the board of directors of a listed issuer in its investment portfolio ("Portfolio Company") and (ii) pursuant to confidentiality provisions in a loan agreement between Ares and the Portfolio Company."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$1,000,000.00
Shared: