On November 16, 2015, the Securities and Exchange Commission (SEC) sued an investment adviser, Virtus Investment Advisers, Inc., who had hired another adviser, F Squared Investments, Inc., to sub-advise certain mutual funds Virtus managed and to assist Virtus in managing certain separately managed accounts. In re Virtus Investment Advisers, Inc., Admin. Pro. No. 3-16959 (Nov. 16, 2015).
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