The Securities and Exchange Commission has sanctioned principal Jeffrey Dunham of Dunham & Associates Investment Counsel and his company for soliciting more than $350 million from nearly 1,700 investors to invest in a common trust fund that, in turn, placed the money in 13 unregistered mutual funds between August 1999 and November 2004.

Without admitting or denying the findings, Dunham & Associates agreed to pay $150,000 in civil penalties, while Dunham himself will personally pay $50,000.

The SEC said the company placed the money in unregistered funds to try to avoid the requirement of federal securities laws.

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