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Invesco Funds Group, 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 and Transferring Funds to Treasury 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 IFG mutual funds to the detriment of long-term investors. As part of the settlement, IFG must pay $215 million in disgorgement and $110 million in civil penalties to defrauded 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). Under the terms of the SEC’s Order, IFG, through an Independent Distribution Consultant (IDC), must submit a distribution plan to the SEC to distribute the total amount of $325 million to injured investors. On July 6, 2007, the SEC published Notice of the Proposed Distribution Plan and Opportunity for Comment, which specifies how copies of the proposed Distribution Plan can be obtained, and describes the process by which persons may comment on the Plan. Those who wish to provide their comments on the proposed Distribution Plan must submit them, in writing, no later than August 6, 2007. 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.
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