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
President Trump has signed into law the Holding Foreign Companies Accountable Act to restrict the ability of foreign issuers to trade on U.S. exchanges if their auditors are not inspected by the Public Company Accounting Oversight Board.
December 21, 2020
Adviser Fined in Connection with Disclosure of Share Classes Used by Model Provider
The SEC has settled charges against a Nebraska-based dual-registrant in connection with share class selection disclosures.
December 21, 2020
SEC Proposes Updates to Fund Disclosure Framework
As part of its investor experience initiative, the SEC has proposed an updated disclosure framework for mutual funds and ETFs.
August 11, 2020
Division of Investment Management Reminds Investment Companies of their Disclosure Obligations
The SEC’s Division of Investment Management recently issued a staff statement reminding investment companies to update and deliver required disclosures to investors in a timely manner.
April 17, 2020
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