FilingIndex
8-KThe WireRoutine

Reg FD Disclosure

Filed Mar 24, 2022 · 4y ago · Accession 0000350894-22-000010

Plain English

Material event — a significant development the company must disclose promptly.

Read the source below for the full document.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 8-K ________________________________________ CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 March 21, 2022 Date of report (Date of earliest event reported) ________________________________________ ________________________________________ SEI INVESTMENTS COMPANY (Exact name of registrant as specified in its charter) ________________________________________ Pennsylvania   0-10200   23-1707341 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.) 1 Freedom Valley Drive Oaks , Pennsylvania 19456 (Address of Principal Executive Offices and Zip Code) ( 610 ) 676-1000 (Registrant's Telephone Number, Including Area Code) ________________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $0.01 per share SEIC The NASDAQ Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 7.01. Regulation FD Disclosure. On March 21, 2022, HSBC Private Bank terminated one of its agreements with a wholly-owned subsidiary, the “Subsidiary,” of SEI Investments Company, the “Company,” for convenience. Under the terminated agreement the Subsidiary would have provided private wealth platform services to local affiliates of HSBC Private Bank in various countries. In connection with this termination, the Subsidiary has been paid a one-time termination fee of approximately $88.0 million. The termination of this agreement will reduce the previously disclosed backlog of uninstalled net new recurring revenue of SEI Investment Company’s Private Banks segment by approximately $20.9 million. All other commercial relationships, including asset management and alternative processing business, that the Company and/or the Subsidiary have with HSBC Private Bank and/or its affiliates remain in place in all material respects. As provided in General Instruction B.2 to Form 8-K, the information furnished pursuant to Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing with the Securities and Exchange Commission, except as shall be expressly provided by specific reference in such filing. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SEI INVESTMENTS COMPANY Date: March 24, 2022 By: /s/ Dennis J. McGonigle Dennis J. McGonigle Chief Financial Officer
Filing details
Ticker
SEIC
CIK
350894
Form type
8-K
Filing date
Mar 24, 2022
Report date
Mar 21, 2022
Document
seic-20220321.htm
Size
222 KB