Asian Development Bank pledges $2 billion annually to Pakistan for climate, infrastructure projects
Premier says Armenia near ‘point of no return’ in ties with Russian-led military alliance
TRT World documentary Holy Redemption wins award at Al Jazeera Balkans film festival
Global law enforcement takes down encrypted platform used by organized crime groups
UK says Euro-Atlantic security is foreign affairs, defense priority
Explosion damages store in western German city of Cologne
European Court of Justice annuls $1.7B fine on Google
European Court of Justice annuls $1.7B fine on Google
Ukrainian boxer Usyk released after detention at Poland airport
Karmod expands steel housing projects to Greek island of Crete

US charges 11 investment managers for failing to report securities holdings

Firms agreed to settle charges, 9 to pay more than $3.4M in combined civil penalties

US charges 11 investment managers for failing to report securities holdings
2024-09-17 23:56:42

​​​​​​​ISTANBUL

The US Securities and Exchange Commission (SEC) announced Tuesday charges against 11 institutional investment managers for failing to report certain securities holdings.

The US regulator said the investment managers were required to file because they have discretion over more than $100 million in certain securities.

All 11 firms agreed to settle the charges, as nine will pay more than $3.4 million in combined civil penalties.

Two firms were not ordered to pay civil penalties because they self-reported the violations, the SEC said in a statement.

"The integrity of the securities markets depends largely on firms providing accurate, timely information about their securities holdings and trading activity," said Jason Burt, director of the Denver Regional Office.