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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Pimco Global Stocksplus and Income Fund | NYSE:PGP | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.024 | 0.32% | 7.564 | 7.5752 | 7.55 | 7.56 | 10,433 | 14:51:57 |
From May 2023 to May 2024
By Adriano Marchese
Pacific Investment Management said it would pay $9 million to settle two enforcement actions relating to disclosure and policies and procedures violations involving two funds it advises.
The U.S. Securities and Exchange Commission said Friday that it found that PIMCO failed to disclose material information to investors regarding the use of interest rate swaps by PIMCO's Global StocksPLUS & Income Fund and the material impact of the the swaps on the fund's dividend from September 2014 to August 2016.
The SEC also found that between April 2011 and November 2017, PIMCO didn't waive about $27 million of advisory fees as required by its agreement with PIMCO's All Asset All Authority Fund.
PIMCO agreed to a cease-and-desist order and a censure in each action and to pay a combined $9 million penalty, but the registered investment advisor didn't admit or deny the regulator's findings.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 16, 2023 10:54 ET (14:54 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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