Defendant Name:
Claritas Investment, Ltd.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Principal Financial Group, Inc.
SIC Code:
6321
CUSIP:
74251V10
Document Reference:
34-70393
Document Details
Legal Case Name
In the Matter of Claritas Investments Ltd.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order and Civil Penalty
Document Date
16-Sep-2013
Document Format
Administrative Proceeding
Allegation Type
Market Manipulation
Document Summary
On September 16, 2013, the SEC instituted settled cease-and-desist proceedings against Claritas Investments Ltd. According to the SEC: "These proceedings arise out of a violation of Rule 105 of Regulation M of the Exchange Act by Claritas, which, at the time of the violation, operated as a Cayman Islands-based asset management firm. Rule 105 prohibits buying an equity security made available through a public offering, conducted on a firm commitment basis, from an underwriter or broker or dealer participating in the offering after having sold short the same security during the restricted period as defined therein.... In February 2011, Claritas bought offered shares from an underwriter or broker or dealer participating in a follow-on public offering after having sold short the same security during the restricted period. This violation resulted in profits of $73,883."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$73,883.00
Shared:
Civil Penalty
Individual:
$65,000.00
Shared:
Pre-Judgment Interest
Individual:
$5,936.67
Shared:
Total Penalty
Individual:
$144,819.67
Shared: