SECs Valuation Case Against Evergreen Holds Significant Lessons for Advisers

The SECs settled enforcement action against Evergreen Investment Management is a must-read by anyone involved in fair valuation processes. In its June 8 order, the SEC asserted that Evergreen, a Boston-based adviser to the Evergreen Funds, failed to adjust the value of overvalued mortgage-backed securities in its Ultra Short Opportunities Fund in 2007 and 2008, […]
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