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# In the Matter of Calvert Investment Distributors, Inc., et al. Admin. Proc. File No. 3-17964

                            Aug. 31, 2022                       

On May 2, 2017, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (the “Order”) against Calvert Investment Distributors, Inc. and Calvert Investment Management, Inc. (collectively, the “Respondents”). In the Order, the Commission found that, from January 1, 2008 through December 31, 2014, the Respondents violated federal securities laws by improperly using fund assets to pay for marketing and distribution services as well as expenses in excess of annual expense caps. The Commission ordered the Respondents to pay a total of $22,614,534.00 in disgorgement, prejudgment interest, and civil money penalties. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, so the penalties, along with the disgorgement and prejudgment interest, paid can be distributed to those harmed by the Respondents’ misconduct described in the Order (“Fair Fund”).

The Order provides for the Respondents to deposit the Fair Fund into an escrow account, acceptable to the Commission staff. The Respondents are responsible for distributing the Fair Fund in accordance with the Order. Tax compliance and any related administrative expenses are the responsibility of the Respondents. The Order requires that the Respondents submit to the Commission staff a final accounting and certification of the disposition of the Fair Fund within 90 days of the disbursement of the funds. See the Commission’s order: Release No. IA-4696. 

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