In the Matter of Fortress Investment Management, LLC, et al.
Admin. Proc. File No. 3-19715
On February 27, 2020, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (the “Order”) against Fortress Investment Management, LLC (“Fortress”), and William M. Malloy, III (“Malloy”) (collectively, the “Respondents”). In the Order, the Commission found that, improper Commission registration and failure to disclose a conflict of interest involving Malloy, and two investment adviser firms under his control, MWM 1835, LLC and Fortress violated the federal securities laws. The Commission ordered, and the Respondents have paid a total of $154,097.00 in disgorgement, prejudgment interest, and civil money penalties to the Commission. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalties, along with the disgorgement and prejudgment interest, collected can be distributed to those harmed by the Respondents’ conduct described in the Order (the “Fair Fund”). See the Commission’s Order: Release No. IA-5452.
On April 8, 2020, the Commission issued an order appointing Miller Kaplan Arase LLP, as the Tax Administrator of the Fair Fund. See the Commission’s Order: Release No. 34-88597.
For more information, please contact the Commission:
Office of Distributions