Defendant Name:
Kevin R. Parke
Defendant Type:
Individual
Document Reference:
IA-2213
Document Details
Legal Case Name
In the Matter of Massachusetts Financial Services Co., John W. Ballen and Kevin R. Parke
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 203(e), 203(f) 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
05-Feb-2004
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Bars:
- Bar on association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization for 6 months
- Prohibited from serving in various capacities for an advisory board, investment adviser or depositor of, or principal underwriter for, a registered investment company or affiliated person of such investment adviser, depositor, or principal underwriter for 6 months
- "For a period of 30 months after the suspension described in paragraph IV.N has been completed, Parke: 1. Shall not serve as an employee, officer or trustee of the MFS Funds or any other registered investment company? 2. Shall not serve as chairman or a member of the board of directors of MFS or any other investment adviser? 3. Shall not serve as chief executive officer, president or any other officer of MFS or any other investment adviser. 4. Shall not perform any duties for MFS or any other investment adviser relating to prospectus or other public disclosures, distribution, institutional or retail sales of MFS Funds or the funds of any other registered investment company, compliance matters, internal audit functions, or shareholder trading activities, and 5. May, to the extent such duties are not prohibited in paragraph IV.P.4 immediately above, (i) perform duties involving strategic planning, business analysis and business planning? (ii) be employed by and act as a portfolio manager of a registered investment company and/or manage other investment personnel with respect to investment and personnel decisions and (iii) participate in the marketing of nonmutual fund business of MFS or of such other investment adviser as may then employ Parke." for 30 months
Monetary Penalties:
Disgorgement
Individual:
$58,853.02
Shared:
Civil Penalty
Individual:
$250,000.00
Shared:
Pre-Judgment Interest
Individual:
$6,230.97
Shared:
Total Penalty
Individual:
$315,083.99
Shared:
Other Defendants in Action:
