IAA Today Archive

Peirce and Uyeda Dissent on Best Ex Violations

SEC Commissioners Peirce and Uyeda dissent on best execution violations in share class selection disclosure enforcement action.

March 09, 2023

Keywords: Best Execution, SEC Enforcement, Share Class Disclosure

Categories & Topics: Compliance, Enforcement

SEC Proposes Broad Package of Requirements for Order Handling, Market Data, and Broker-Dealer Best Execution

SEC proposes sweeping market structure changes, calls for enhanced disclosure, pricing, order routing requirements and new best execution rule for brokers; adopts amendments to safe harbor rule for trading plans for insiders.

December 16, 2022

Keywords: Best Execution, Trading

Categories & Topics: Brokerage & Trading, Compliance

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

Keywords: BCP, Best Execution, Cybersecurity, Digital Assets, ESG, Examinations, Form CRS, Private Funds, Revenue Sharing, SEC Examinations, Technology, Wrap Fees, Zero Commissions

Categories & Topics: Compliance, Examinations

Colorado Advisers Pay Over $10 Million to Settle Share Class Selection, Related Charges

Two affiliated Colorado-based investment advisers are paying more than $10 million to settle charges involving share class selection disclosure, revenue sharing, and best execution. The SEC settlement order requires them...

July 15, 2021

Keywords: Best Execution, SEC Enforcement, Share Class Disclosure

Categories & Topics: Compliance, Enforcement

Examining Best Execution and Trading in the Current Landscape

February 2021

February 10, 2021

Keywords: Best Execution, Columns, Guest Column, Trading

Categories & Topics: Compliance, Soft Dollars

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 Fines Adviser $40 Million for Lack of Disclosure in Connection With Teachers’ Retirement Plans and Share Class Selection

The SEC has fined a Texas-based investment adviser a total of $40 million in two enforcement actions regarding failures to disclose certain practices by the adviser in connection with teacher...

August 11, 2020

Keywords: 12b-1 Fees, Best Execution, Conflicts of Interest, Jay Clayton, Mutual Funds, Retirement Plans, Revenue Sharing, SEC Enforcement, Share Class Disclosure, Wrap Fees

Categories & Topics: Compliance, Conflicts, Enforcement