PIMCO Announces SEC Wells Notice Related to BOND ETF

August 3, 2015 4:56 PM EDT

PIMCO Total Return Active Exchange-Traded Fund (NYSE: BOND) and Pacific Investment Management Company LLC, BOND's investment manager, announced that PIMCO has received a Wells Notice from the staff of the U.S. Securities and Exchange Commission that relates to BOND. The notice indicates the staff's preliminary determination to recommend that the SEC commence a civil action against PIMCO stemming from a nonpublic investigation relating to BOND. A Wells Notice is neither a formal allegation of wrongdoing nor a finding that any law was violated.

This matter principally pertains to the valuation of smaller sized positions in non-agency mortgage-backed securities purchased by BOND between its inception on February 29, 2012 and June 30, 2012, the fund's performance disclosures for that period, and the firm's compliance policies and procedures related to these matters.

The Wells process provides us with our opportunity to demonstrate to the SEC staff why we believe our conduct was appropriate, in keeping with industry standards, and that no action should be taken. We will continue to engage with the SEC and we are confident that this matter will not affect our ability to serve our clients.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

ETFs, Insiders' Blog, Trader Talk

Related Entities

Pacific Investment Management Company, LLC (PIMCO)