- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-01-26T18:22:00
A Chicago-based investment adviser and its former partner agreed to pay nearly $1.6 million in combined penalties to settle charges by the Securities and Exchange Commission (SEC) that they mislead a Pennsylvania school pension fund.
Aon Investments USA agreed to pay a $1 million civil penalty and more than $540,000 in disgorgement and prejudgment interest for misleading clients, the SEC announced in a press release Thursday. Aon’s former partner, Claire Shaughnessy, agreed to pay a $30,000 civil penalty. Both the firm and Shaughnessy also agreed to be censured.
The firm and Shaughnessy were responsible for calculating investment returns for the Pennsylvania Public School Employees’ Retirement System (PSERS), according to the SEC’s order.
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Van Eck Associates agreed to pay $1.75 million as part of a settlement with the Securities and Exchange Commission regarding its alleged failure to properly disclose the planned involvement of a social media influencer in the launch of an exchange-traded fund.
Northern Star Investment Corp. II faced a penalty of $1.5 million to settle charges laid by the Securities and Exchange Commission that it made misleading statements in its January 2021 initial public offering.
OEP Capital Advisors agreed to pay a $4 million penalty as part of a settlement with the Securities and Exchange Commission addressing alleged deficiencies regarding the prevention of misuse of material nonpublic information.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
