Defendant Name: Hancock Whitney Investment Services, Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 34-106253

Document Details

Legal Case Name In the Matter of Hancock Whitney Investment Services, Inc.
Document Name Order Authorizing the Transfer to the U.S. Department of the Treasury of the Remaining Funds and Any Funds Returned to the Fair Fund in the Future and Terminating the Fair Fund
Document Date 01-Sep-2026
Document Format Administrative Proceeding
File Number 3-20074
Allegation Type Investment Advisers/Investment Companies
Document Summary The Commission ordered that: "A. the remaining funds in the amount of $371,463.49 that are infeasible to return to investors, and any funds returned to the Fair Fund in the future that are infeasible to return to investors, shall be transferred to the Treasury, subject to Section 21F(g)(3) of the Securities Exchange Act of 1934; and B. the Fair Fund is terminated."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
The Commission authorized the transfer to the U.S. Department of the Treasury of the remaining funds and any funds returned to the Fair Fund in the future and terminated the Fair Fund
Fair Funds
Monetary Penalties:

Disgorgement

Individual:     $1,651,686.29 Shared:    

Civil Penalty

Individual:     $400,000.00 Shared:    

Pre-Judgment Interest

Individual:     $286,105.79 Shared:    

Total Penalty

Individual:     $2,337,792.08 Shared:    

Related Documents:

34-90004 25-Sep-2020 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing a Remedial Sanctions and a Cease-and-Desist Order
On September 25, 2020, the SEC instituted settled cease-and-desist proceedings against Hancock Whitney Investment Services, Inc. The Commission stated: "These proceedings arise out of breaches of fiduciary duty by HWIS, a dually-registered investment adviser and broker-dealer, in connection with its mutual fund share class selection practices that resulted in its receipt of three types of fees from its advisory clients' investments at times from January 2014 through May 2017."
34-90004-s 25-Sep-2020 Administrative Summary
Advisory Firm Settles Charges Related to Mutual Fund Share Class Selection, Agrees to Repay Clients
The SEC stated that: "[It] settled charges against Hancock WhitneyInvestment Services, Inc., a registered investment adviser and broker-dealer based in New Orleans, Louisiana, arising out of its mutual fund and money market share class selection practices. HWIS will distribute the fees it received as a result of its share class selection practices to harmed clients."