- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-05-08T17:03:00
The Securities and Exchange Commission (SEC) charged a New York-based investment adviser and several mutual fund trustees with aiding and abetting violations of its Liquidity Rule—the agency’s first enforcement action related to the policy.
Pinnacle Advisors was charged for “aiding and abetting Liquidity Rule violations by a mutual fund it advised and whose liquidity risk management program it administered,” according to the SEC’s press release Friday. The agency’s complaint was filed in U.S. District Court for the Northern District of New York.
The SEC also charged the fund’s two independent trustees, Mark Wadach and Lawton Williamson, and two officers of both Pinnacle Advisors and the fund it advised, Robert Cuculich and Benjamin Quilty, with aiding and abetting Liquidity Rule violations.
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