Defendant Name:
WL Ross & Co. LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Invesco Ltd.
SIC Code:
6282
CUSIP:
G491BT10
Document Reference:
IA-4494
Document Details
Legal Case Name
In the Matter of WL Ross & Co. LLC
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
24-Aug-2016
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On August 24, 2016, the SEC instituted a settled administrative proceeding against WL Ross & Co. LLC. According to the SEC, these proceedings arise from “the failure of private equity fund adviser WL Ross
to disclose its fee allocation practices to certain private equity funds it advised (the “WLR
Funds”) and their investors, which resulted in the WLR Funds paying higher management fees
between 2001 and 2011.”
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Civil Penalty
Individual:
$2,300,000.00
Shared:
