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Pimco to pay $20m, settles charges over ETFs

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The Securities and Exchange Commission has announced that investment management firm Pacific Investment Management Company (PIMCO) agreed to retain an independent compliance consultant and pay nearly $20m to settle charges that it misled investors about the performance of one its first actively managed exchange-traded funds (ETFs) and failed to accurately value certain fund securities.

Ernst & Young agrees $9.3m settlement with SEC

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The Securities and Exchange Commission has announced that public accounting firm Ernst & Young has agreed to pay $9.3m to settle charges that two of the firm’s audit partners got too close to their clients on a personal level and violated rules that ensure firms maintain their objectivity and impartiality during audits.

Merrill Lynch fined $415m for misusing customer cash

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The Securities and Exchange Commission announced that Merrill Lynch has agreed to pay $415m and admit wrongdoing to settle charges that it misused customer cash to generate profits for the firm and failed to safeguard customer securities from the claims of its creditors.

SEC announces whisteblower award of more than $325,000

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The Securities and Exchange Commission has announced a whistleblower award totalling more than $325,000 for a former investment firm employee who tipped the agency with specific information that enabled enforcement staff to open an investigation and uncover the extent of the fraudulent activity.

SEC charges UBS Puerto Rico

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The Securities and Exchange Commission has charged UBS Financial Services of Puerto Rico and a former branch manager for failing to supervise a former broker who had customers invest in UBSPR affiliated mutual funds using money borrowed from a UBSPR affiliated bank.

Citigroup settles for compliance and surveillance failures

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The Securities and Exchange Commission has announced that Citigroup Global Markets has agreed to settle charges that it failed to enforce policies and procedures to prevent and detect securities transactions that could involve the misuse of material, non-public information.

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Pimco to pay $20m, settles charges over ETFs

The Securities and Exchange Commission has announced that investment management firm Pacific Investment Management Company (PIMCO) agreed to retain an independent compliance consultant and pay nearly $20m to settle charges that it misled investors about the performance of one its first actively managed exchange-traded funds (ETFs) and failed to accurately value certain fund securities.

SEC Building

Ernst & Young agrees $9.3m settlement with SEC

The Securities and Exchange Commission has announced that public accounting firm Ernst & Young has agreed to pay $9.3m to settle charges that two of the firm’s audit partners got too close to their clients on a personal level and violated rules that ensure firms maintain their objectivity and impartiality during audits.