Politics & Regulation Tax & legal

PAAMCO cleared by SEC

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Pacific Alternative Asset Management Company, which hit the headlines as it fought to retain its 40% share of PAAMCO Founders in a court case against Franklin, owned by the firm’s seed investor Donald Sussman, has been cleared by the SEC.

In late October, the New York Regional Office of the Securities and Exchange Commission started an investigation, which has been completed.

Jane Buchan, chief executive officer, said in a statement that the SEC will not be recommending any enforcement action against PAAMCO.