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Candriam S.C.A.: investment adviser
Candriam, SociÉTÉ En Commandite Par Actions, doing business as Candriam S.C.A., is an investment adviser registered with the SEC (file 801-80510, CRD 173355). What it reports on Form ADV: assets and clients, fees, owners, disciplinary history and its client brochure. From the SEC's Investment Adviser Public Disclosure site; read Oct 21, 2026.
- Assets managed
- $154.7B
- Discretionary
- 100%
- Accounts
- 474
- Employees
- 598
- In advisory roles
- 288
- Disclosures
- 18
SEC adviser record · Full Form ADV (PDF)
The firm reports that it or a related person has custody of client cash and securities.
Form ADV Part 1A, Item 5, as filed on the SEC Investment Adviser Public Disclosure site; read Oct 21, 2026.
Clients and fees
Whom the firm advises and how it is paid, from Items 5.D, 5.E and 5.G.
| Client type | Clients | Assets | Share |
|---|---|---|---|
| Banks and thrifts | 3 | $2.1B | 1.4% |
| Registered funds | 3 | $417.4M | 0.3% |
| Private funds and other pooled vehicles | 190 | $108.0B | 69.8% |
| Pension and profit-sharing plans | 78 | $11.4B | 7.4% |
| Charities | 75 | $3.2B | 2.0% |
| State and local governments | 12 | $4.3B | 2.8% |
| Insurance companies | 71 | $17.0B | 11.0% |
| Corporations | 40 | $8.2B | 5.3% |
| Other: Trade union, universities, high schools | 2 | $27.0M | 0.0% |
How it is paid
- A percentage of assets under your management
- Performance-based fees
Services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (as well as "business development companies" that have made an election pursuant to section 54 of the Investment Company Act of 1940)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients (other than registered investment companies and other pooled investment vehicles)
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters
- Educational seminars/workshops
Who owns it
Schedule A lists direct owners of 5% or more (and officers who own a stake); Schedule B lists the owners of those owners.
Direct owners (Schedule A)
| Owner | Type | Role | Stake | Since | Control | Public company |
|---|---|---|---|---|---|---|
| Candriam Group (Ex: New York Life Investment Management Global Holdings S.À R.L.) | Company (outside the U.S.) | Direct interest holder | D 50% to 75% | Feb 2014 | Yes | |
| Belfius Bank | Company (outside the U.S.) | Direct interest holder | C 25% to 50% | Nov 2025 | Yes |
Indirect owners (Schedule B)
| Owner | Owns a stake in | Type | Stake | Control | Public company |
|---|---|---|---|---|---|
| Candriam Group (Ex-New York Life | Candriam Luxco S.À R.L. | Company (outside the U.S.) | F General partner, trustee or managing member | Yes | |
| New York Life Insurance Company | New York Life Investment Management Holdings LLC Interest | Company (U.S.) | E 75% or more | Yes | |
| New York Life Investment | New York Life Investment International Holder | Company (U.S.) | E 75% or more | Yes | |
| New York Life Investment | New York Life Investment | Company (outside the U.S.) | E 75% or more | Yes |
Form ADV reports ownership in bands, not exact stakes: A means 5% to 10%, B 10% to 25%, C 25% to 50%, D 50% to 75%, E 75% or more. F marks a general partner, trustee or managing member, a role that controls the firm without a percentage. Owners of less than 5% are not listed.
Form ADV Schedules A and B, via the SEC Investment Adviser Public Disclosure site.
Disciplinary history
What the firm disclosed under Item 11 of Form ADV. A disclosure is the firm's own report: pending matters are allegations, not findings, and many settlements are made without admitting or denying them. Text is quoted from the filing, set in sentence case.
Item 11 questions answered Yes
These questions cover the firm and its advisory affiliates.
- In the past ten years, have you or any advisory affiliate: been charged with any felony?
- Has any other federal regulatory agency, any state regulatory agency, or any foreign financial regulatory authority: ever found you or any advisory affiliate to have been involved in a violation of investment-related regulations or statutes?
- Has any other federal regulatory agency, any state regulatory agency, or any foreign financial regulatory authority: in the past ten years, entered an order against you or any advisory affiliate in connection with an investment-related activity?
Actions about the firm (1)
- Apr 16, 2020Regulatory Action: Commission de Surveillance du Secteur Financier FinalSanctions: Civil and Administrative Penalt(ies) /Fine(s) · Fine: $10,000 · Begun Dec 6, 2019 · Resolved Apr 16, 2020 · Order · Docket OPC.20/M207-JDU/JDU S626
The Commission de Surveillance du Secteur Financier found that a sub-fund made available to non-US institutional investors by the firm and liquidated in March 2017, was not managed in accordance with the fund prospectus and therefore was not in compliance with certain provisions of Luxembourg law.
Monetary fine of $10,000
On April 16, 2020, Candriam paid the eur 10,000 fine in full.
Actions about affiliates (15)
- Aug 7, 2025Regulatory Action: State of Connecticut Insurance Department FinalAbout an affiliate: New York Life InsuranceFine: $2,000 · Begun Aug 7, 2025 · Resolved Aug 7, 2025 · Stipulation and Consent · Docket MC 25-65
Nylic paid a $2,000 fine for failing to pay claims and interest on claims in a timely manner, in violation of Connecticut statutory requirements. Resolved via stipulation and consent order dated August 7, 2025, and no formal hearing was held.
Pursuant to a market conduct examination by the State of Connecticut Insurance Department, stipulation and final order, dated 08/07/2025, New York Life Insurance company was found to have violated section 38A-816 of the Connecticut general statutes.
- Aug 7, 2025Regulatory Action: State of Connecticut Insurance Department FinalAbout an affiliate: New York Life InsuranceSanctions: Civil and Administrative Penalt(ies) /Fine(s) · Fine: $12,000 · Begun Aug 7, 2025 · Resolved Aug 7, 2025 · Stipulation and Consent · Docket MC 25-82
Nyliac paid a $12,000 fine for permitting eight (8) producers to act as agents in Connecticut without the required appointment. Resolved via stipulation and consent order dated August 7, 2025, and no formal hearing was held.
Nyliac paid a $12,000 fine.
Pursuant to a market conduct examination by the State of Connecticut Insurance Department, stipulation and final order, dated 08/07/2025, New York Life Insurance and annuity corporation was found to have violated section 38A-702M of the Connecticut general statutes.
- Jun 6, 2025Regulatory Action: European Central Bank FinalAbout an affiliate: Belfius BankSanctions: Civil and Administrative Penalt(ies) /Fine(s) · Fine: $8.2M · Begun Jun 6, 2025 · Resolved Jun 6, 2025 · Other
On 6 June 2025, the ecb has issued an administrative penalty of eur 6.94 million to Belfius Bank due to non-compliance with the requirements related to the implementation of internal models. (Please note that the ecb decision of July 2023 contains 26 different obligations on which Belfius Bank NV / Belfius banque SA has all - but for obligation 1 - been acting in line with the implementation calendar imposed by the ecb.) The European Central Bank, decided on 6 June 2025 to impose an administrative penalty on Belfius Bank in an amount of eur 6,940,000. This penalty is imposed in respect of a breach of an ecb decision on internal models, for the period from 27 January 2024 to 17 March 2025. More specifically Belfius Bank failed, by the deadline of 26 January 2024, to implement the new internal models for calculating capital requirements for credit risk and to submit an audit report testing and validating these models. Consequently, it continued using outdated internal models. This decision was made pursuant to article 18(7) of council regulation (EU) no 1024/2013. The ecb has taken into account as a mitigating circumstance the fact that Belfius Bank implemented since Q1 2024 an overall add-on to temporarily mitigate the impact of the use of non- compliant internal models.
On 6 June 2025 the ecb has issued an administrative penalty of eur 6.94 million.
- Sep 4, 2024Regulatory Action: Fsma (Belgium) FinalAbout an affiliate: Belfius BankSanctions: Other; No sanction - transactional agreement · Begun Sep 4, 2024 · Resolved Sep 4, 2024 · Settled
The belgian financial services and markets authority (Fsma) considered that, during the period from 4 April to 31 May 2023, Belfius Bank committed several infringements in connection with the public offering of deposit certificates. There was no question of intentional wrongdoing. As soon as the head of legal informed olivier onclin (member of the management board, responsible for PBR) and johan vankelecom (CFO responsible for legal at that time) of the situation, the kasbon / bon de caisse offer was immediately stopped and the management board implemented different actions to remedy and to prevent it in the future. A settlement between the Fsma and Belfius Bank has been concluded on 4 September 2024. The settlement consists of the payment of 1 million euro, Belfius Bank's commitment to reinforce its legal risk management by appointing a new member of the management board with solid legal background. From January 1, 2025 and as long as the above mentioned strengthening has not taken place, Belfius has taken the commitment to set up an executive committee comprising at least one member with a solid legal background to assist and advice the management board on the implementation of Belfius' strategy and policy. Belfius Bank also agreed for this settlement to be published, including disclosure of names, on the Fsma's website.
No sanction - transactional agreement
- Apr 19, 2024Regulatory Action: Missouri Department of Commerce and Insurance FinalAbout an affiliate: New York Life GroupSanctions: Civil and Administrative Penalt(ies) /Fine(s) · Fine: $13,000 · Begun Apr 19, 2024 · Resolved Apr 19, 2024 · Settled · Docket 390226
New York Life Group insurance company of New York and the predecessor company filed forms and provided data to the state from 2018 to 2022 that contained inaccuracies.
New York life agrees to pay the $13,000 forfeiture and to take remedial action bringing it into compliance with the statutes and regulations of Missouri and agrees to maintain those remedial actions at all times.
- Dec 16, 2023Regulatory Action: Louisiana Department of Insurance FinalAbout an affiliate: New York Life InsuranceSanctions: Civil and Administrative Penalt(ies) /Fine(s) · Fine: $100,000 · Begun Dec 16, 2023 · Resolved Dec 16, 2023 · Settled
New York Life Insurance company failed to use policy forms that were reviewed and approved by the state. In addition, certain forms did not comply with state regulations.
New York life agreed to a consent order from the state and paid a fine of $100,000 related to use of forms in the state which were not approved by or did not comply with state regulations. In addition to paying the fine of $100,000 on 12/22/2023, nyl is also amending forms and agreement and resubmitting them to the state to comply with the appropriate regulations.
- Oct 20, 2021Regulatory Action: Kentucky Department of Insurance FinalAbout an affiliate: New York Life InsuranceFine: $112,000 · Begun Oct 4, 2021 · Resolved Oct 20, 2021 · Order · Docket 2021SCM066
On October 4,2021 New York Life Insurance company ("NYLIC") received an order of civil penalty and adoption of a corrective action plan from the Kentucky Department of Insurance alleging that NYLIC incorrectly implemented premium rate increases on 112 individual long term care contracts in violation of Kentucky insurance law.
Monetary fine of $112,000
- Oct 20, 2021Regulatory Action: Kentucky Department of Insurance FinalAbout an affiliate: New York Life InsuranceFine: $112,000 · Begun Oct 14, 2021 · Resolved Oct 20, 2021 · Order · Docket 2021SCM066
On October 4, 2021 New York Life Insurance company ("NYLIC") received an order of civil penalty and adoption of a corrective action plan from the Kentucky Department of Insurance alleging that NYLIC incorrectly implemented premium rate increases on 112 individual long term care contracts in violation of Kentucky insurance law.
Monetary fine $112,000
- Jun 29, 2021Regulatory Action: Fsma (Belgium) FinalAbout an affiliate: Belfius BankSanctions: Other; No sanction - transactional agreement · Begun Dec 1, 2020 · Resolved Jun 29, 2021 · Settled
In October 2020, Belfius Bank initiated an advertising campaign concerning a compartment of an undertaking for collective investment (UCI) in belgium which had not been submitted to the belgian financial services and markets authority for prior approval as required by regulatory requirements in belgium (law of 3/08/2012 and ar 25/04/2014). According to the Fsma, the advertising campaign of Belfius Bank related to the cure compartment of the Belfius equities opc did not constitute a "brand awareness advertising"", and therefore the Fsma was of the opinion that Belfius Bank did not comply with the information obligations (law of 3/08/2012 and ar 25/04/2014) when selling financial products to retail clients. A settlement has been concluded between Belfius Bank and the Fsma on 29 June 2021. The settlement agreement stipulates the payment of an amount of 300,000 euros, as well as the nominative publication of the settlement document on the website of the Fsma.
No sanction - transactional agreement
- Mar 23, 2021Regulatory Action: Office of the Montana State Auditor, Commission of Securities and Insurance FinalAbout an affiliate: New York Life InsuranceFine: $10,000 · Begun Mar 23, 2021 · Resolved Mar 23, 2021 · Stipulation and Consent · Docket INS 2018-275
The Office of the Montana State Auditor, Commission of Securities and Insurance ("CSI") found that since 2015 New York Life Insurance company and New York Life Insurance and annuity corporation (collectively, "nyl") used group life insurance and group annuity forms that had not been approved by the CSI, provided coverage under such forms to Montana residents and did not submit the forms for approval as required under Montana law.
The March 23, 2021 consent agreement resolves the allegations against nyl and was entered without adjudication of any issue, law or fact.
- Mar 11, 2021Regulatory Action: Swedish Financial Supervisory Authority ("Sfsa") FinalAbout an affiliate: Mackay Shields LLC; the full record is on the affiliate's own Form ADVFine: $300 · Begun May 20, 2019 · Resolved Mar 11, 2021 · Decision · Docket FI REF 18-16063
In June 2018, Mackay Shields notified the sfsa of one short position in the shares of a Swedish issuer. That notification was made unintentionally later than the notification deadline specified in regulation (EU) no. 236/2012.
Mackay Shields was notified on 5/20/19, that the sfsa was investigating to determine whether to impose a special fine. On 6/11/20 Mackay Shields was notified that the sfsa decided to impose a special fine of sek 5,000 (approx. $600.00). Mackay Shields appealed the decision. On 2/8/21, Mackay Shields was notified that the appeal was not successful in overturning the decision, however, the amount of the special fine was reduced to sek 2,500 (approx. $300.00). The decision became final on 3/11/21.
- Jan 24, 2018Regulatory Action: State of Connecticut Insurance Department FinalAbout an affiliate: New York Life InsuranceSanctions: Civil and Administrative Penalt(ies) /Fine(s) · Fine: $1,000 · Begun Jan 24, 2018 · Resolved Jan 24, 2018 · Consent · Docket MC 17-47
During the course of a routine market conduct exam, the State of Connecticut Insurance Department (the state) found New York Life Insurance company did not timely pay long term care claims in four instances.
Nylic was fined $1,000.00, which was paid to the state in December 2017.
- Jun 15, 2017Civil Judicial Action FinalAbout an affiliate: New York Life InvestmentSanctions: Money Damages (Private/Civil Complaint) · Fine: $3.0M · Begun Jul 18, 2016 · Resolved Jun 15, 2017 · Settled
The main allegation of the compliant in that plan fiduciaries violated ERISA by not offering the elast expensive s&p 500 index fund available.
Class action was approved and settled for all persons who participated in the New York life insurance company employee progress-sharing investment plan or the New York life agents progress-sharing investment plan (collectively, the "plans") whose plan account included an investment in the mainstay s&p 500 index fund at any time during the period between July 18, 2010 and July 19, 2016 (the "class period"), including any beneficiary of a deceased person who participated in the plans at any time during the class period, and/or, alternate payees in the case of a person subject to a qualified domestic relations order who participated in the plans at any time during the class period.
- Oct 31, 2016Regulatory Action: State of New York Department of Financial Services FinalAbout an affiliate: New York Life InsuranceSanctions: Civil and Administrative Penalt(ies) /Fine(s) · Fine: $732,067 · Begun Oct 31, 2016 · Resolved Oct 31, 2016 · Consent · Docket 2016-001-A
As the result of a routine market conduct examination of the affairs of New York Life Insurance company for the period from January 1, 2005 through December 31, 2009, the New York state department of financial services found that New York life violated sections 53-3.5(a), 53-3.2(a)(2) and 53-3.6(b)of the department regulation NO.74 as well as New York insurance law section 3201(b) (1).
In October 2016, New York life paid a civil penalty of $732,067.00.
The findings by the New York state department of financial services have been resolved through a consent order.
- Dec 7, 2015Regulatory Action: Illinois Department of Insurance FinalAbout an affiliate: New York Life InsuranceSanctions: Civil and Administrative Penalt(ies) /Fine(s); Institute and maintain specific policies and procedures. · Fine: $26,450 · Begun Dec 7, 2015 · Resolved Dec 7, 2015 · Stipulation and Consent · Docket 66915
The Illinois Department of Insurance conducted a market exam, the report of which identified certain areas where nylic was not in compliance with Illinois insurance regulations. Nylic and the il dept of insurance entered into a stipulation and consent order under which nylic will pay a civil penalty and institute policies and procedures to comply with appropriate regulations.
The civil forfeiture levied against nylic (eagle's controlling affiliate) was in the amount of $26,450 and a check was issued, payable to the director of insurance, for this amount on 12/16/2015.
Nylic paid $26,450 to the director of insurance on 12/16/2015.
Disclosures filed elsewhere
The firm's Form ADV names these and the kind of action only; the details are on the named firm's own filing.
- 2 criminal disclosures about Belfius Bank
Form ADV Item 11 and its Disclosure Reporting Pages, via the SEC record. All adviser disciplinary records.
The brochure
No brochure text was read for this firm.
Form ADV Part 2A, via the SEC Investment Adviser Public Disclosure site.