Pimco to Pay $9 Million SEC Fine for Fee, Disclosure Probes (1)

Pacific Investment Management Co. will pay $9 million over allegations from the US Securities and Exchange Commission that it broke agency rules when advising on two funds.

The SEC said on Friday that Pimco failed to disclose key information to investors about how swaps could impact its PIMCO Global StocksPLUS & Income Fund between 2014 and 2016. Additionally, the Wall Street regulator alleged that between 2011 and 2017 that the asset manager failed to waive $27 million in fees that it had agreed to forgo, and that the firm lacked some some written policies and procedures related to fees.

Pacific Investment Management Co. (Pimco) headquarters in Newport Beach, California

Photographer: David Swanson/Bloomberg