IAA Today Archive

SEC Proposes Rules on Advisers’ Use of Technology

On Wednesday, the SEC proposed rules addressing conflicts of interest associated with the use of predictive data analytics by advisers and broker-dealers in investor interactions.

July 27, 2023

Keywords: Conflicts of Interest, Disclosure, Technology

Categories & Topics: Compliance, Conflicts, Fiduciary, FinTech & Digital

Adviser, Principals Fined for Charging Clients Fees Without Providing Advice

One Principal Barred for Three Years from Acting as Chief Compliance Officer A Michigan-based investment adviser and two of its principals are paying more than $900,000 to settle SEC charges...

October 05, 2021

Keywords: Conflicts of Interest, Disclosure, Fees and Expenses, Fiduciary, SEC Enforcement

Categories & Topics: Compliance, Conflicts, Enforcement, Fiduciary

SEC Brings More Revenue Sharing Disclosure Cases

SEC Brings More Revenue Sharing Disclosure Cases August 17, 2021   Revenue sharing disclosure violations are at the heart of two new enforcement actions by the SEC.  In the first...

August 17, 2021

Keywords: Conflicts of Interest, Disclosure, Revenue Sharing, SEC Enforcement

Categories & Topics: Compliance, Conflicts, Enforcement

SEC Adds Lack of Disclosure of Margin Interest Mark-Ups to Share Class-Related Violations

SEC Adds Lack of Disclosure of Margin Interest Mark-Ups to Share Class-Related Violations August 4, 2021   In another case that underscores the SEC’s harsher findings and penalties for share...

August 04, 2021

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

Categories & Topics: Compliance, Conflicts, Enforcement

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

New Risk Alerts Focus on Wrap Fee Programs, Principal and Cross Trades July 22, 2021   The SEC’s Division of Examinations has issued two risk alerts describing the staff’s observations...

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

Adviser to Pay $97 Million in Connection with Rollover Conflicts

Adviser to Pay $97 Million in Connection with Rollover Conflicts July 13, 2021   A New York-based firm dually registered as an investment adviser and broker-dealer has agreed to pay...

July 13, 2021

Keywords: Compliance Policies, Conflicts of Interest, Disclosure, SEC Enforcement

Categories & Topics: Compliance, Conflicts, Enforcement

SEC Fines Adviser for Undisclosed Third-Party Loans to its IARs

SEC Fines Adviser for Undisclosed Third-Party Loans to its IARs June 15, 2021   The SEC brought an enforcement action against an Arizona-based investment adviser for failing to disclose to...

June 15, 2021

Keywords: Conflicts of Interest, Disclosure, SEC Enforcement

Categories & Topics: Compliance, Conflicts, Enforcement

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

Dual-Registrant Pays Over $18 Million to Settle Charges Related to Wrap Fee Program Fees, Monitoring, and Disclosures January 5, 2021   The SEC has fined a New Jersey-based dual-registrant over...

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