# UNITED STATES OF AMERICA > Briefs, arguments, decisions, and more. URL: https://www.frixlaw.com/law-library/documents/agency%3Asec%3Afd76c57e5a217388 ## Record - **Collection:** Agency decision - **Document type:** Agency decision ## Text UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 93020 / September 16, 2021 ADMINISTRATIVE PROCEEDING File No. 3-18527 In the Matter of deVere USA, Inc., Respondent. : : : : : : : ORDER DIRECTING DISBURSEMENT OF FAIR FUND On March 23, 2020, the Commission published a Notice of Proposed Plan of Distribution and Opportunity for Comment (“Notice”),1 pursuant to Rule 1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans (“Commission’s Rules”);2 and simultaneously posted the Proposed Plan of Distribution (the “Proposed Plan”). The Notice advised interested persons that they could obtain a copy of the Proposed Plan from the Commission’s public website or by submitting a written request to Susan Pecaro, United States Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-5876. The Notice also advised that all persons desiring to comment on the Proposed Plan could submit their comments, in writing, within 30 days of the Notice. The Commission received five substantive comments on the Proposed Plan during the comment period. On August 17, 2020, after thorough review and 1 2 Exchange Act Rel. No. 88452 (Mar. 23, 2020). 17 C.F.R. § 201.1103. substantial consideration, the Commission issued an order approving the Proposed Plan as modified therein,3 and posted the approved a Modified Plan of Distribution (the “Plan”). The Plan provides for the distribution of the Fair Fund, plus accumulated interest, less taxes, fees, and expenses, to the harmed investors according to the methodology set forth in the Plan. Pursuant to the Plan, the Fund Administrator has submitted a payment file to Commission staff with a reasonable assurances letter as to the completeness and accuracy of the information contained therein. The Commission staff has reviewed and accepted the payment file and requests, pursuant to Rule 1101(b)(6) of the Commission’s Rules, 17 C.F.R. § 201.1101(b)(6), that the Commission authorize the transfer of $8,329,307.19 from the Fair Fund to the Fair Fund’s escrow account at Alerus Financial for distribution by the Fund Administrator to the eligible investor in accordance with the Plan. Accordingly, it is hereby ORDERED, that Commission staff shall transfer $8,329,307.19 from the Fair Fund to the Fair Fund’s escrow account at Alerus Financial, and the Fund Administrator shall distribute such monies to the eligible investor in accordance with the Plan. For the Commission, by the Division of Enforcement, pursuant to delegated authority.4 Vanessa A. Countryman Secretary 3 4 See Order Approving Modified Plan of Distribution, Exchange Act Rel. No. 89588 (Aug. 17, 2020). 17 C.F.R. § 200.30-4(a)(21)(v). 2 --- Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Asec%3Afd76c57e5a217388. Public record. Not legal advice.