Defendant Name:
Virtus Investment Advisers, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Virtus Investment Partners, Inc.
SIC Code:
9999
CUSIP:
92828Q10
Document Reference:
IA-4266
Document Details
Legal Case Name
In the Matter of Virtus Investment Advisers, Inc.
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, 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
16-Nov-2015
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On November 16, 2015, the SEC instituted settled administrative and cease-and-desist proceedings against Virtus Investment Advisors, Inc. According to the SEC: "This matter arises from misstatements made by registered investment adviser Virtus to certain of its mutual fund clients, to those funds' shareholders, and to clients in separately managed accounts concerning its sub adviser F-Squared Investments, Inc.'s ('F-Squared') materially inflated, and hypothetical and back-tested, performance track record."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Monetary Penalties:
Disgorgement
Individual:
$13,400,000.00
Shared:
Civil Penalty
Individual:
$2,000,000.00
Shared:
Pre-Judgment Interest
Individual:
$1,100,000.00
Shared:
