Defendant Name:
Credicorp Capital Advisors LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Credicorp Ltd.
SIC Code:
6029
CUSIP:
G2519Y10
Document Reference:
IA-6588
Document Details
Legal Case Name
In the Matter of Credicorp Capital Advisors LLC
Document Name
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
Document Date
12-Apr-2024
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On April 12, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Credicorp Capital Advisors LLC, stating: "This matter involves failures by Credicorp, a registered investment adviser, to comply with amendments to Advisers Act Rule 206(4)-1 that the Commission adopted in December 2020 (the “Amended Marketing Rule”). From November 4, 2022, the compliance deadline for the Amended Marketing Rule, through June 8, 2023 (the “Relevant Period”), Credicorp advertised hypothetical performance on its public website without adopting and implementing policies and procedures reasonably designed to ensure that the hypothetical performance was relevant to the likely financial situation and investment objectives of the intended audience. As a result, Credicorp violated Section 206(4) of the Advisers Act and Rule 206(4)-1(d) thereunder."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$30,000.00
Shared:
