Defendant Name: Wilmington Trust Investment Management, LLC

Defendant Type: Subsidiary of Public Company

Document Reference: IA-6455-s

Document Details

Legal Case Name In the Matter of Wilmington Trust Investment Management, LLC
Document Name SEC Charges Investment Adviser for Failure to Disclose Conflicts and Duty of Care Violations
Document Date 10-Oct-2023
Document Format Administrative Proceeding
File Number 3-21780
Allegation Type Investment Advisers/Investment Companies
Document Summary On October 10, 2023, the SEC "announced settled charges against Wilmington Trust Investment Management, LLC, a Delaware-based registered investment adviser, for breaches of its fiduciary duties."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Monetary Penalties:

Disgorgement

Individual:     $999,559.00 Shared:    

Civil Penalty

Individual:     $250,000.00 Shared:    

Pre-Judgment Interest

Individual:     $77,588.00 Shared:    

Related Documents:

IA-6455 10-Oct-2023 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On October 10, 2023, the SEC announced settled administrative and cease-and-desist proceedings against Wilmington Trust Investment Management, LLC after they "invested certain clients' assets in higher-cost mutual fund share classes than were otherwise available while failing to disclose the conflicts of interest associated with those investment recommendations."