Bank Of Hawaii

Allegations: ON 9/15/22, THE SECURITIES AND EXCHANGE COMMISSION ("SEC"), ACTING PURSUANT TO AN OFFER BY THE REGISTRANT WHICH CONSENTED TO THE ENTRY OF AN ORDER MAKING CERTAIN FINDINGS AND IMPOSING CERTAIN REMEDIES, INSTITUTED ADMINISTRATIVE PROCEEDINGS FINDING THAT THE REGISTRANT HAD VIOLATED SECTION 206(4) OF THE INVESTMENT ADVISERS ACT OF 1940 AND RULE 206(4)-5 THEREUNDER WHEN THE REGISTRANT PROVIDED INVESTMENT ADVISORY SERVICES FOR COMPENSATION FOR TWO YEARS FOLLOWING A CONTRIBUTION BY A COVERED ASSOCIATE TO AN INCUMBENT CANDIDATE FOR GOVERNOR, WHICH POSITION APPOINTS PEOPLE WHO COULD INFLUENCE THE HIRING OF INVESTMENT ADVISERS BY A GOVERNMENT ENTITY. THE SEC NOTED THAT RULE 206(4)-5 DOES NOT REQUIRE A SHOWING OF QUID PRO QUO OR ACTUAL INTENT TO INFLUENCE AN ELECTED OFFICIAL. Status: Final Sanction Detail: THE ASSET MANAGEMENT GROUP OF BANK OF HAWAII ("AMG") PAID A CIVIL MONETARY PENALTY IN THE AMOUNT OF $45,000 WITHIN 10 DAYS OF THE ENTRY OF THE ORDER. Summary: THE ACTION WAS RESOLVED PURSUANT TO AN SEC ORDER DATED 9/15/22; IN THE MATTER OF ASSET MANAGEMENT GROUP OF BANK OF HAWAII, ADMINISTRATIVE PROCEEDING FILE NO. 3-21080. WITHOUT ADMITTING OR DENYING THE FINDINGS EXCEPT AS TO THE COMMISSION'S JURISDICTION OVER IT AND THE SUBJECT MATTER OF THESE PROCEEDINGS, AMG CONSENTED TO THE ENTRY OF THE ORDER THAT AMG (I) CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTION 206(4) OF THE ADVISERS ACT AND RULE 206(4)-5 THEREUNDER; (II) IS CENSURED; (III) PAY A CIVIL MONEY PENALTY OF $45,000 TO THE SEC.