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UNITED STATES OF AMERICA
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In the Matter of Federated Investment Management Company, Federated Securities Corp. and Federated Shareholder Services Company Respondents. |
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NOTICE OF PROPOSED PLAN OF DISTRIBUTION AND OPPORTUNITY FOR COMMENT |
Notice is hereby given, pursuant to Rule 1103 of the Securities and Exchange Commission's ("Commission") Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1103, that the Division of Enforcement has filed with the Commission the proposed plan ("Distribution Plan") for the distribution of the Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002 in In the Matter of Federated Investment Management Company, Federated Securities Corp. and Federated Shareholder Services Company ("Federated"). The Commission issued an Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 15(b)(4) and 17A(c)(3) of the Securities Exchange Act of 1934, Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of the Investment Company Act of 1940 as to Federated Investment Management Company, Federated Securities Corp. and Federated Shareholder Services Company, Administrative Proceeding File No. 3-12111 on November 28, 2005. (Rel. No. 34-52839)
Pursuant to this Notice, all interested parties are advised that they may obtain a copy of the Distribution Plan from the Commission's public website, http://www.sec.gov, or by submitting a written request to Elaine C. Greenberg, Associate Regional Director, United States Securities and Exchange Commission, 701 Market Street, Suite 2000, Philadelphia, PA 19106. Further, all persons desiring to comment on the Distribution Plan may submit their comments, in writing, no later than 30 days from the date of this Notice:
to the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-1090;
by using the Commission's Internet comment form (http://www.sec.gov/litigation/admin.shtml); or
by sending an e-mail to rule-comments@sec.gov.
Comments submitted by e-mail or via the Commission's website should include "Administrative File Number 3-12111" in the subject line. Comments received will be available to the public. Persons should only submit information that they wish to make publicly available.
The Distribution Plan provides for distribution of the Fair Fund which consists of disgorgement of $27 million and a civil money penalty of $45 million, plus any accumulated interest, less any federal, state, or local taxes on the interest. The Distribution Plan provides for distribution of the Fair Fund to eligible investors in the Federated Funds identified in the plan to compensate them for losses resulting from market timing and late trading. If the Distribution Plan is approved, eligible investors will receive a proportionate share of the Fair Fund as calculated by the Independent Distribution Consultant. The distribution amount will be calculated from information in Federated's records, and records obtained from third-party intermediaries. Eligible investors will not need to go through a claims process.
Elizabeth M. Murphy
Secretary
See also Proposed Distribution Plan
http://www.sec.gov/litigation/admin/2009/34-61118.htm
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