AIM Advisors, Inc. and AIM Distributors, Inc.

Latest Action: Under the terms of the SEC's order, an Independent Distribution Consultant (IDC) submitted a distribution plan to the SEC. On May 23, 2008, the SEC approved the plan. You can read the SEC's Order Approving a Modified Distribution Plan as well as the IDC’s Modified Distribution Plan.

Background: On October 8, 2004, the SEC simultaneously instituted and settled administrative and cease-and-desist proceedings against Invesco Funds Group, Inc. (IFG), AIM Advisors, Inc. (AIM Advisors), and AIM Distributors, Inc. (ADI). The SEC issued an order finding that IFG, AIM Advisors, and ADI violated the federal securities laws by facilitating widespread market timing trading in certain AIM mutual funds to the detriment of long-term investors. As part of the settlement, AIM Advisors and ADI must pay $20 million in disgorgement and $30 million in civil penalties to injured investors.  For more information about the SEC’s action, you can read In the Matter of Invesco Funds Group, Inc., AIM Advisors, Inc., and AIM Distributors, Inc. at Release No. 50506 (Oct. 8, 2004).

After publication and comment, the proposed Distribution Plan will be submitted to the SEC for approval. When the SEC approves the proposed Distribution Plan, with modifications as appropriate, distributions will begin.