The Securities and Exchange Commission (SEC) announced today a settlement with Claymore Advisors, LLC, a portfolio management services firm acquired by Guggenheim Partners in October 2009 and operating today as Guggenheim Funds Investment Advisors (GFIA). Because the conduct in question occurred prior to Guggenheim Partners' acquisition of Claymore Advisors, Guggenheim Partners was in no way party to the matters described in the SEC Order.
The issues reviewed by the SEC, related to Claymore Advisors, were focused on supervision and disclosure, and not around the legality of the strategy or the trades executed. The SEC determined that Claymore Advisors, in its role as investment advisor and fund administrator to the Fiduciary/Claymore Dynamic Equity Fund (HCE, the Fund), failed reasonably to supervise a third party portfolio manager, Fiduciary Asset Management, LLC (FAMCO), that employed strategies exposing the Fund to risks which were inadequately disclosed by HCE, and that Claymore Advisors caused the Fund to have inadequate disclosures.
Today, the SEC also announced a settlement agreement with FAMCO, the third-party portfolio manager in question. The SEC found that FAMCO misled investors and failed to disclose significant material information about trading strategies and the risks associated with them. Per its settlement agreement with the SEC, FAMCO is required to: (1) pay a civil money penalty; and (2) disgorge fees it received in connection with its role as portfolio manager of HCE. Two FAMCO employees implicated in the matter have not settled and the SEC is pursuing legal action against them.
The legacy Claymore Advisors business has established a distribution plan to reimburse former HCE shareholders for 100 percent of losses ($45,396,878) attributable to the five specific trades cited by the SEC and associated with the conduct described in the Order. These trades were executed from September 2008 to October 2008, over a year before Guggenheim Partners acquired Claymore Advisors. The Fund was closed in May 2009, also prior to the Claymore Advisors acquisition, and Guggenheim Partners was in no way party to the misconduct alleged. Guggenheim Partners has engaged in preliminary dialogue with FAMCO regarding shared funding of the distribution plan.
For additional information about the Settlement and the Plan of Distribution, including how to obtain copies of the Notice and Claim Form, please call the Plan Administrator toll-free at 1-855-590-8694. You may also write to the Plan Administrator at: HCE Distribution Plan, c/o GCG, Inc., PO Box 9950 Dublin, Ohio 43017-5950.
About Guggenheim Partners, LLC
Guggenheim Partners, LLC is a privately held global financial services firm with more than $160 billion in assets under management.* The firm provides asset management, investment banking and capital markets services, insurance, institutional finance and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients around the world from more than 25 offices in eight countries. For more information about Guggenheim Partners, visit guggenheimpartners.com.
* Assets under management are as of September 30, 2012 and include consulting services for clients whose assets are valued at approximately $35 billion.
Media Contacts:
Amy Rosenberg
Executive Vice President, Media Relations
Hill + Knowlton Strategies
(917) 439-9309
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
IPC Expands Brazilian Presence with New Channel Partner CCATech
Industry veterans Carlos Abrah o and Bruno Lopes strengthen local support and expand IPCs prese...
20/08/2026
Zixi Enters Mauritius Market Through Strategic Deployment with MTC Jockey Club
Worlds Oldest Horse Racing Club in the Southern Hemisphere Selects Zixis Softwar...
20/08/2026
LA JOLLA, CA-Scripps Research assistant professor Tiantian Liu has received a five-year NIAID DP2 award from the National Institute of Allergy and Infectious Di...
20/08/2026
Audiences reveal appetite for multicultural Australia on-screen 20 August 2026
Dr Georgie McClean, Dr Rebecca Huntley (L-R)
By Dr Georgie McClean and Dr Rebec...
20/08/2026
How Mavis Studio Is Expanding Live Production Teaching at Sussex
Brie Clayton August 19, 2026
0 Comments
Hero image displays a student about to mix be...
20/08/2026
Vertical Unscripted Series Legal Queens Captured with Blackmagic Design
Brie Clayton August 19, 2026
0 Comments
Reality TV veteran Eric Gardner create...
19/08/2026
As the cost of IP nears price parity with traditional SDI, Reynolds argues that ...
19/08/2026
A private 5G bubble was chosen instead of traditional broadcast RF for the race ...
19/08/2026
(L-R) Rafael Manuel and Isabel Sicat attend the Filipi ana premiere during the 2026 Sundance Film Festival at The Ray Theatre on January 23, 2026, in Park Cit...
19/08/2026
Studio owners invited to have their say on rates cuts
The Music Producers Guild (MPG) are inviting UK-based studios to take part in an in-depth survey that ...
19/08/2026
Vintage-inspired desktop interface revealed
Harrison's latest hardware offering sees them head into the world of audio interfaces, delivering a 10-in/12...
19/08/2026
Granular effect remains locked to scale and tempo
Described as your dream granular effect , Minimal Audio's latest creation is capable of turning any s...
19/08/2026
First polyphonic SWAM instrument incoming
Audio Modeling's latest physical-modelling orchestral instrument is just around the corner, and is now availab...
19/08/2026
World Cup Games Generate 84 Billion Minutes Across FOX, Fox Sports 1 and NBCU...
19/08/2026
July brought typical peak-holiday drops in viewership, driven primarily by viewers stepping away from screens and a visible decline in reach across both traditi...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Henry joins BCE as the company accelerates its commercial strategy and expands its international presence across the media, broadcast and technology markets. He...
19/08/2026
iWedia, a leading provider of software solutions for connected TV devices, today announced a major milestone in Android platform optimization with the successfu...
19/08/2026
NTP Technology announces that ST 2110-30 audio-over-IP connectivity with AES67 and RAVENNA capabilities is now available for the brand's world-class audio i...
19/08/2026
Net Insight has been selected to provide its Nimbra platform by the service provider Big Blue Marble, formerly ORS Group, as the core media transport solution f...
19/08/2026
LiveU has supported Coventry City FC and several other top-flight UK football clubs through one of their most demanding live production challenges of the year, ...
19/08/2026
Nature Seekers Documentary Shot with Blackmagic URSA Cine 12K LF
Brie Clayton August 18, 2026
0 Comments
Filming endangered turtles required camera...
19/08/2026
Neyrinck Brings D-Control Consoles Back to Life on Apple Silicon with D-Control ...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Riedel Communications today announced that Edith Cowan University (ECU) in Perth, Australia, implemented a comprehensive communications infrastructure that brin...
19/08/2026
QuickLink, a leading provider of award-winning video production and remote guest contribution solutions, will spotlight a major leap forward in remote guest con...
19/08/2026
Integrated platform melds media asset management, playout automation and newsroom workflows
EMAM, PlayBox Neo and SNEWS have officially launched Nuvex, a conne...
19/08/2026
Screen Australia releases the Private Investment Toolkit to strengthen screen in...
19/08/2026
Do Aussies truly value local content? Unpacking Screen Currency 2026 with Deirdr...
19/08/2026
There's an early Christmas gift for Bookish fans, as UKTV confirms the re-commission of the hit U&alibi drama, created by and starring Mark Gatiss. Viewers ...
19/08/2026
Wednesday 19 August 2026
Sky gives sports fans the chance to watch multiple liv...
19/08/2026
On Saturday September 5 Katie Taylor will step into the ring for the fight of her life against Flora Pili in front of 80,000 fans in Croke Park. A legendary fig...
18/08/2026
SportStream 2026, a free three-day virtual event, will take place September 15-17. One registration provides access to all three days of live programming and on...
18/08/2026
BeckTV will introduce BeckFlow to the European market at IBC2026, demonstrated on the Providius stand (10.F53).
BeckFlow is a web-based schematic documentation...
18/08/2026
Boland Communications will introduce a SMPTE ST 2110 input option for its 4K monitors at IBC2026, along with a new 55-inch super-narrow bezel display for video ...
18/08/2026
Dolby Laboratories and the Seattle Seahawks have announced a partnership integrating Dolby OptiView into the Seahawks' live streaming coverage, making the S...
18/08/2026
For BMG Executive Producer of Sports Production, Graham Taylor, producing live s...
18/08/2026
TMRW Sports has appointed Rufus Hack as President of Golf, a newly created role in which he will lead the company's golf businesses including TGL presented ...
The Securities and Exchange Commission (SEC) announced today a settlement with Claymore Advisors, LLC, a portfolio management services firm acquired by Guggenheim Partners in October 2009 and operating today as Guggenheim Funds Investment Advisors (GFIA). Because the conduct in question occurred prior to Guggenheim Partners' acquisition of Claymore Advisors, Guggenheim Partners was in no way party to the matters described in the SEC Order.
