Defendant Name: PA Distributors LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 34-81064_3-11645

Document Details

Legal Case Name In the Matter of PA Fund Management LLC f/k/a PIMCO Advisors Fund Management LLC, PEA Capital LLC f/k/a PIMCO Equity Advisors LLC, and PA Distributors LLC f/k/a PIMCO Advisors Distributors LLC
Document Name Notice of Name Change of Appointed Tax Administrator
Document Date 30-Jun-2017
Document Format Administrative Proceeding
File Number 3-11645
Allegation Type Investment Advisers/Investment Companies
Document Summary On June 30, 2017, the SEC announced a Name Change of Appointed Tax Administrator, and amended the Omnibus Order, beginning June 2017 and for calendar year 2018, to replace all references to Damasco with "Miller Kaplan Arase LLP which acquired Damasco & Associates LLP" in order to reflect Damasco's name change.

Disgorgement & Penalty Information

Resolutions
On June 30, 2017, the SEC announced a Name Change of Appointed Tax Administrator.

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34-50354 13-Sep-2004 Administrative Proceeding
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
On September 13, 2004, the SEC instituted settled administrative and cease-and-desist proceedings against PA Fund Management LLC, PEA Capital LLC, and PA Distributors LLC. According to the SEC: "This action concerns the negotiated but undisclosed, market timing agreement between Respondents and a hedge fund allowing the hedge fund to market time several mutual funds that are part of the PIMCO Equity Funds: Multi-Manager Series ('PIMCO Equity Funds' or the 'Funds')."
34-63059 07-Oct-2010 Administrative Proceeding
Notice of Proposed Plan of Distribution Plan and Opportunity for Comment
On October 7, 2010, the SEC issued Notice of Proposed Plan of Distribution and Opportunity for Comment. According to the SEC: "The Fair Fund is comprised of $48,383,262 in disgorgement, prejudgment interest and penalties paid by the Respondents, plus accumulated interest, less any federal, state, or local taxes on the interest. The Distribution Plan, if approved, proposes the distribution of the monies based on shareholders' losses, defined as shareholder dilution and transactions costs, caused by market timing in the Equity Funds from February 2002 to April 2003. Harmed shareholders will receive their losses suffered and their proportionate share of advisory fees paid by the funds that suffered losses and their proportionate share of interest earned on the Fair Fund."
34-63059-pdp 07-Oct-2010 Administrative Proceeding
Proposed Plan of Distribution
According to the SEC, the Proposed Plan of Distribution, "sets forth the procedures by which to distribute to investors, for the period spanning February 2002 through April 2003, their proportionate share of the fund established to compensate such investors for injury they may have suffered as a result of market timing in four funds that were formerly part of the PIMCO Equity Funds: Multi-Manager Series ('Equity Funds' or 'Funds'), Growth Fund, Opportunity Fund, Target Fund, and Innovation Fund. Losses and fees will be paid to all shareholders who were directly harmed by the market timer, to the extent that these shareholders can be identified and located. The Fair Fund is not intended to compensate investors for losses they incurred because of fluctuations in securities markets." Michael F. Koehn, Ph.D. was engaged as the Independent Distribution Consultant in the matter. Rust Consulting, Inc. was proposed to serve as the Fund Administrator.
34-63518 10-Dec-2010 Administrative Proceeding
Order Approving Plan of Distribution, Appointing a Fund Administrator, and Waiving Bond
On December 10, 2010, the SEC ordered the approval of the Distribution Plan, the appointment of Rust Consulting, inc. as the Fund Administrator, and the waiver of the bond requirement for good cause shown. According to the SEC: "The Distribution Plan provides for the distribution of the Fair Fund based on shareholders' losses, defined as shareholder dilution and transaction costs, caused by market timing in the Equity Funds from February 2002 to April 2003. Harmed shareholders will receive their losses suffered and their proportionate share of advisory fees paid by the funds that suffered losses and their proportionate share of interest earned on the Fair Fund. Upon termination of the Fair Fund, the monies that remain in the Fair Fund will be transferred to the Commission for remittance to the U.S. Treasury."
34-63518-fdp 10-Dec-2010 Administrative Proceeding
Final Plan of Distribution
According to the SEC: "The Distribution Plan sets forth the procedures by which to distribute to investors, for the period spanning February 2002 through April 2003, their proportionate share of the fund established to compensate such investors for injury they may have suffered as a result of market timing in four funds that were formerly part of the PIMCO Equity Funds: Multi-Manager Series ('Equity Funds' or 'Funds'), Growth Fund, Opportunity Fund, Target Fund, and Innovation Fund. Losses and fees will be paid to all shareholders who were directly harmed by the market timer, to the extent that these shareholders can be identified and located. The Fair Fund is not intended to compensate investors for losses they incurred because of fluctuations in securities markets." Michael F. Koehn, Ph.D. was engaged as the Independent Distribution Consultant in the matter. Rust Consulting, Inc. was appointed by the Commission to serve as the Fund Administrator.
34-64477 12-May-2011 Administrative Proceeding
Order Directing Disbursement of Fair Fund
On May 12, 2011, the SEC ordered that, "the Commission staff shall transfer for the first tranche $20,174,793.19 of the Fair Fund to Deutsche Bank and the Fund Administrator shall distribute such monies to investors, as provided for in the Plan." According to the SEC: "The Distribution Plan provides that the Fair Fund consisting of disgorgement, civil penalties, and accrued interest, by transferred to Deutsche Bank Trust Company Americas ('Deutsche Bank') for distribution by the Fund Administrator to injured investors according to the methodology set forth in the Plan."
34-65935 09-Dec-2011 Administrative Proceeding
Order Directing Disbursement of Fair Fund
On December 9, 2011, the SEC ordered that, "the Commission staff shall transfer for the second tranche $2,932,078.67 of the Fair Fund to Deutsche Bank and the Fund Administrator shall distribute such monies to investors, as provided for in the Plan." According to the SEC: "The Distribution Plan provides that the Fair Fund consisting of disgorgement, civil penalties, and accrued interest, by transferred to Deutsche Bank Trust Company Americas ('Deutsche Bank') for distribution by the Fund Administrator to injured investors according to the methodology set forth in the Plan."
34-74071 15-Jan-2015 Administrative Proceeding
Order Directing Disbursement
On January 15, 2015, the SEC ordered that, "the Commission staff shall disburse the amount stated in the validated payment file of $3,404,162.72 as provided in the Plan." According to the SEC: "The Plan ... provides that any monies not distributed to investors may be distributed to the PIMCO mutual funds, or their successors, harmed by market timing activity in proportion to the portion of overall harm each fund suffered. The Fund Administrator was unable to distribute a total of $3,404,162.72, which is currently held by the Commission."
34-81514 31-Aug-2017 Administrative Proceeding
Order Authorizing the Transfer to the U.S. Treasury of the Remaining Funds and Any Funds Returned to the Fair Fund in the Future, Discharging the Fund Administrator, and Terminating the Fair Fund
The Commission stated that "A. The remaining Fair Fund balance of $29,631,674.91, and any funds returned to the Fair Fund in the future, shall be transferred to the U.S. Treasury; B. The Fund Administrator, Rust Consulting, Inc. is discharged; and C. The Fair Fund is terminated."

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