IAA Today Archive

Private Fund Adviser Charged for Excessive Fees and Conflict Disclosure

SEC charges private fund adviser for miscalculating and not disclosing fees related to permanent impairment criteria.

July 27, 2023

Keywords: Fees and Expenses, Private Funds, SEC Enforcement

Categories & Topics: Compliance, Compliance Programs, Conflicts, Enforcement, Private Funds

Recent SEC Share Class Case Focuses on Wrap Fee Program

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July 29, 2022

Keywords: SEC Enforcement, Share Class Disclosure, Wrap Fees

Categories & Topics: Compliance, Conflicts, Enforcement, Wrap Fee

Digital Advisers Charged with Providing Misleading Disclosures Regarding Cash Sweep Portion of the Firms’ Platform

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June 20, 2022

Keywords: Conflicts of Interest, SEC Enforcement

Categories & Topics: Compliance, Conflicts, Enforcement

SEC Brings Share Class Selection Enforcement Action Involving Wrap Fee Accounts

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May 13, 2022

Keywords: Conflicts, SEC Enforcement, Share Class Disclosure

Categories & Topics: Compliance, Conflicts, Enforcement

Adviser Fined for Custody Rule Violations for Facilitating Loans Between Clients

The SEC has fined a California-based registered investment adviser and its president for custody failures. The president, who was the majority owner of the adviser, facilitated $30 million in loans...

October 07, 2021

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

Categories & Topics: Compliance, Conflicts, Custody, Enforcement

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, 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

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