In the Matter of Six Financial Information USA Inc.
Admin. Proc. File No. 3-18234
On September 28, 2017, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (the “Order”) against Six Financial Information USA Inc. (“Respondent”). In the Order, the Commission found that, from October 2007 through May 2009, the Respondent, an outside valuation agent, violated federal securities laws by misleading an investment firm concerning the value of four complex European options held by several series of a managed futures fund as to the type of valuation work it had performed. The Commission ordered the Respondent to pay a total of $107,707.00 in disgorgement, prejudgment interest, and a civil money penalty. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, so the penalty, along with the disgorgement and prejudgment interest, collected can be distributed to those harmed by the Respondent’s misconduct described in the Order (“Fair Fund”).
The Order further provides that within 90 days of receipt of the monies ordered, the Commission will distribute $43,330.00 (the fees paid to Data Firm in the amount of $42,170 plus interest in the amount of $1,160.00) of the Fair Fund to Investment Firm, previously identified by Commission staff, who suffered a net harm as a result of the Respondent’s misconduct described in the Order. After the distribution payment and all taxes and administrative expenses paid, the Commission will transfer the remaining funds to the general fund of the United States Treasury. See the Commission’s order: Release No. I.A. 40-4780.
On October 26, 2017, the Commission issued an order appointing Miller Kaplan Arase LLP, as the Tax Administrator of the Fair Fund. See the Commission’s order: 34-81960.
For more information, please contact the Commission:
Office of Distributions