PIMCO charged by US SEC over disclosure and procedures failures

$9m settlement

The US Securities and Exchange Commission has charged PIMCO for violating disclosure, policies and procedures rules for two funds the company advises.

PIMCO has settled the two violations and agreed to pay $9m, the SEC said. The US regulator found that between September 2014 and August 2016, PIMCO failed to disclose material information to investors regarding interest rate swaps and the material impact of the swaps on the PIMCO Global StocksPLUS and Income fund's dividend. SEC and Federal Reserve investigate Goldman Sachs over SVB collapse - reports Additionally, PIMCO failed to waive about $27m of advisory fees between April 2011 and November 2017, which was required under the agreement with the PIMCO All Asset All Authority fun...