PMAC agrees with the policy rationale of the Proposed Rules and welcomes the creation of a process that would increase distributions of disgorged amounts to the investors who have been harmed by sanctionable conduct. PMAC believes the Proposed Rules are a positive development for investors but could be improved upon to further protect investors by providing wider notice of any disgorgement order and allocating any undistributed amounts to administrative costs of future distributions.
You can read PMAC’s full response here.
