December 1, 2016 / 9:40 PM / in a year

Pimco to pay $20 mln over misleading investors about ETF -US SEC

WASHINGTON, Dec 1 (Reuters) - The Pacific Management Investment Co (Pimco) will pay $20 million and retain an independent compliance consultant to settle charges that it misled investors about the performance of its Total Return ETF, U.S. regulators announced Thursday.

The Securities and Exchange Commission’s settlement with Pimco, a unit of German insurer Allianz SE, came more than two years after legendary bond manager Bill Gross, who managed Pimco’s Total Return Fund, left the company for smaller rival Janus Capital Group. (Reporting by Sarah N. Lynch; Editing by Jonathan Oatis)

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