Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Various undertakings
Fair Funds
Plan of Distribution
Monetary Penalties:
Disgorgement
Individual:
$9,700,000.00
Shared:
Civil Penalty
Individual:
$5,000,000.00
Shared:
Pre-Judgment Interest
Individual:
$1,300,000.00
Shared:
Total Penalty
Individual:
$16,000,000.00
Shared:
Related Documents:
33-8911
24-Apr-2008
Administrative Proceeding
Order under Section 27A(b) of the Securities Act of 1933 and Section 21E(b) of the Securities Exchange Act of 1934, Granting Waivers of the Disqualification Provisions of Section 27A(b)(1)(A)(ii) of the Securities Act of 1933 and Section 21E(b)(1)(A)(ii) of the Securities Exchange Act of 1934
The Commission ordered that: "a waiver from the disqualification
provisions of Section 27A(b)(1)(A)(ii) of the Securities Act and Section 21E(b)(1)(A)(ii)
of the Exchange Act as to Gabelli Funds and its affiliates resulting from the entry of the
Order is hereby granted."
Proposed Plan of Distribution
On August 26, 2009, a proposed plan of distribution was filed in the matter of Gabelli Funds, LLC.
34-60656
11-Sep-2009
Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has filed with the Commission the proposed plan ("Distribution Plan") for the distribution of monies in In the Matter of Gabelli Funds LLC. . . . The Distribution Plan provides for distribution of disgorgement in the
amount of $9.7 million, prejudgment interest of $1.3 million, and a civil money penalty in the amount of $5 million, plus any accumulated interest, less any federal, state, or local taxes on the interest."
34-61255
30-Dec-2009
Administrative Proceeding
Order Appointing a Fund Administrator and Waiving Bond
On December 30, 2009, the SEC ordered the appointment of Rust Consulting, Inc. as the Fund Administrator and that the bond requirement is waived for good cause shown.
34-61256
30-Dec-2009
Administrative Proceeding
Order Approving Distribution Plan
On December 30, 2009, the SEC ordered the approval of the Distribution Plan.
34-62728
16-Aug-2010
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On August 16, 2010, the SEC ordered that "the Commission staff shall transfer $6,199,426.66 of the Fair Fund to U.S. Bank, and the Fund Administrator shall distribute such monies to investors, as provided for in the Distribution Plan."
34-62806
31-Aug-2010
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On August 31, 2010, the SEC ordered that "the Commission staff shall transfer $6,018,207.06 of the Fair Fund to U.S. Bank, and the Fund Administrator shall distribute such monies to investors, as provided for in the Distribution Plan."
34-68733
25-Jan-2013
Administrative Proceeding
Order Authorizing the Transfer of Remaining Funds and Any Future Funds Returned to the Fair Fund to the U.S. Treasury, Terminating the Fair Fund, and Discharging the Fund Administrator
On January 25, 2013, the SEC ordered "the remaining Fair Fund balance of $6,356,291.10 and any future funds returned to the Fair Fund shall be transferred to the U.S. Treasury". The SEC also ordered the termination of the Fair Fund and the discharge of the Fund Administrator.