SEC Publishes Examination Priorities for 2022
The SEC’s Division of Examinations has issued its examination priorities for 2022, which are in line with recent regulatory initiatives and rulemakings directed at advisers.
April 01, 2022
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SEC Fines Adviser for Breach of Fiduciary Duty
The SEC has settled charges against a registered investment adviser for breach of fiduciary duty to clients for failures regarding conflicts disclosure, best execution, and duty of care.
March 07, 2022
In Revenue Sharing Case, SEC Highlights Failure to Consider Other Money Market Funds for Cash Sweeps
In yet another case involving cash sweep accounts, the SEC has fined a New York-based adviser in connection with failing to disclose revenue sharing and related conflicts of interest involving money market fund cash sweep accounts.
October 06, 2021
SEC Brings More Revenue Sharing Disclosure Cases
Revenue sharing disclosure violations are at the heart of two new enforcement actions by the SEC.
August 17, 2021
The SEC has fined a Massachusetts-based investment adviser for disclosure failures in connection with conflicts arising from a cash sweep-related revenue sharing arrangement.
July 20, 2021
Boston Firm Pays Over $1.85 Million to Settle Share Class Charges
The SEC has fined a Boston-based dual-registrant for breaches of fiduciary duty.
February 22, 2021
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.
January 05, 2021
Dual-Registrant Pays Over $20 Million to Settle Share Class, Cash Sweep, and Illiquid Alt
The SEC has fined an Iowa-based dual-registrant over $20 million in connection with “disclosure failures and misleading statements to clients” arising from share class selection, revenue sharing, and compensation practices relating to illiquid alternative investments.
December 28, 2020