IAA Today Archive

Gensler Says SEC Considering New Rulemakings for Private Fund Advisers

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November 22, 2021

Keywords: Conflicts of Interest, Gary Gensler, Private Equity, Private Funds

Categories & Topics: Business Ops/HR, Compliance, Conflicts, Private Funds

Adviser Charged with Investing Client Assets in More Expensive Share Classes to Avoid Paying Transaction Fees

The SEC is suing a Missouri adviser for allegedly investing client assets in expensive mutual fund share classes to avoid paying transaction fees.

October 06, 2021

Keywords: Conflicts of Interest, SEC Enforcement, Share Class Disclosure, Wrap Fees

Categories & Topics: Business Ops/HR, Compliance, Conflicts, Enforcement, Wrap Fee

Adviser Fined for Conflicts Disclosure and Custody Issues Related to Private Fund Investments

The SEC has fined a Connecticut-based investment adviser and its principal for inadequate disclosure of conflicts of interest related to investments of a private fund client and for violations of...

September 22, 2021

Keywords: Conflicts of Interest, Custody, Private Funds, SEC Enforcement

Categories & Topics: Business Ops/HR, Compliance, Conflicts, Custody, Enforcement, Private Funds

New Risk Alerts Focus on Wrap Fee Programs, Principal and Cross Trades

The SEC’s Division of Examinations has issued two risk alerts describing the staff’s observations resulting from initiatives on wrap fee programs (Wrap Fee Risk Alert) and principal and cross trades...

July 22, 2021

Keywords: Compliance Policies, Conflicts of Interest, Cross Trading, Disclosure, SEC Examinations, Wrap Fees

Categories & Topics: Brokerage & Trading, Business Ops/HR, Compliance, Conflicts, Examinations, Wrap Fee

Dual-Registrant Pays Over $18 Million to Settle Charges Related to Wrap Fee Program Fees, Monitoring

The SEC has fined a New Jersey-based dual-registrant over $18 million for breaches of fiduciary duty to advisory clients that participated in the firm’s wrap fee programs. The charges relate...

January 05, 2021

Keywords: 12b-1 Fees, Best Execution, Conflicts of Interest, Disclosure, Fees and Expenses, Mutual Funds, Revenue Sharing, SEC Enforcement, Share Class Disclosure, Wrap Fees

Categories & Topics: Business Ops/HR, Compliance, Conflicts, Registered Funds, Wrap Fee

SEC Adopts Amendments to Shareholder Proposal Rule, Raising the Bar for Submission and Resubmission of Shareholder Proposals

In a 3-2 vote, the SEC has adopted amendments to the rule regarding the process for including shareholder proposals in issuers’ proxy statements, making it more difficult for shareholders to...

October 02, 2020

Keywords: 12b-1 Fees, Best Execution, Conflicts of Interest, Money Market Fund, Mutual Funds, Revenue Sharing, SEC Enforcement, Share Class Disclosure

Categories & Topics: Business Ops/HR, Proxy Voting

SEC Charges Adviser for Failing to Disclose Financial Conflicts of Interest

SEC Charges Adviser for Failing to Disclose Financial Conflicts of Interest February 27, 2020   The SEC has filed a complaint against a California-based investment adviser and its former co-owners...

February 27, 2020

Keywords: Conflicts of Interest, Disclosure, Private Funds, SEC Enforcement

Categories & Topics: Business Ops/HR, Compliance, Conflicts, Enforcement, Private Funds