Defendant Name: American Skandia Investment Services, Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 34-62733

Document Details

Legal Case Name In the Matter of American Skandia Investment Services, Inc.
Document Name Order Approving Plan of Distribution, Appointing Fund Administrator, and Waiving Bond
Document Date 16-Aug-2010
Document Format Administrative Proceeding
File Number 3-13446
Allegation Type Investment Advisers/Investment Companies
Document Summary On August 16, 2010, the SEC ordered the Distribution Plan approved, the appointment of Rust Consulting, Inc. as Fund Administrator, and the waiver of the bond requirement of Rule 1105(c) of the Commission's Rules on Fair Fund and Disgorgement Plans for good cause shown.

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Fair Funds
Plan of Distribution
Monetary Penalties:

Disgorgement

(Penalty was noted in document, but no amount was listed)

Civil Penalty

(Penalty was noted in document, but no amount was listed)

Total Penalty

Individual:     $68,000,000.00 Shared:    

Related Documents:

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On April 17, 2009, the SEC instituted settled administrative and cease-and-desist proceedings against American Skandia Investment Services, Inc. ("ASISI"). According to the SEC: "These proceedings concern market-timing related misconduct by ASISI as investment adviser to the American Skandia Trust ('AST') portfolios that serve as a funding vehicle for variable annuities issued by American Skandia Life Assurance Corporation ('ASLAC'). From at least January 2000 through in or around September 2003, ASISI accommodated widespread market timing in the AST portfolios (hereinafter referred to as 'sub-accounts')."
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