IAA Today Archive

SEC Announces First Enforcement Action Under Fund Liquidity Rule

The SEC has charged a fund’s adviser and independent trustees in the first enforcement action under the fund liquidity rule.

May 16, 2023

Keywords: Investment Company Act, SEC Enforcement, SEC Investment Management

Categories & Topics: Compliance, Enforcement, Registered Funds

Advisers Charged with Valuation, Compliance, Oversight Failures

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June 27, 2022

Keywords: Mutual Funds, SEC Enforcement, Valuation

Categories & Topics: Business Ops/HR, Compliance, Enforcement, Registered Funds, Valuation

Boston Firm Pays Over $1.85 Million to Settle Share Class Charges

Boston Firm Pays Over $1.85 Million to Settle Share Class Charges SEC Continues Crackdown, Expanding Focus on Revenue Sharing, Cash Sweep Vehicles February 22, 2021 In its latest enforcement case...

February 22, 2021

Keywords: 12b-1, Revenue Sharing, SEC Enforcement, Share Class Disclosure

Categories & Topics: Business Ops/HR, Registered Funds

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

Dual-Registrant Pays Over $20 Million to Settle Share Class, Cash Sweep, and Illiquid Alt

Dual-Registrant Pays Over $20 Million to Settle Share Class, Cash Sweep, and Illiquid Alt December 28, 2020   The SEC has fined an Iowa-based dual-registrant over $20 million in connection...

December 28, 2020

Keywords: 12b-1 Fees, Conflicts, Disclosure, Registered Funds, Revenue Sharing, SEC Enforcement, Share Class Disclosure, Trading

Categories & Topics: Brokerage & Trading, Business Ops/HR, Compliance, Conflicts, Registered Funds

Adviser Fined in Connection with Disclosure of Share Classes Used by Model Provider

Adviser Fined in Connection with Disclosure of Share Classes Used by Model Provider December 21, 2020   The SEC has settled charges against a Nebraska-based dual-registrant in connection with share...

December 21, 2020

Keywords: Disclosure, SEC Enforcement, Share Class Disclosure

Categories & Topics: Business Ops/HR, Registered Funds

Statistics Point to Record-Setting Year for SEC

Statistics Point to Record-Setting Year for SEC 15 Percent of Investment Advisers Examined October 15, 2020   SEC Chairman Jay Clayton provided an update on the SEC’s results for the...

October 15, 2020

Keywords: Diversity & Inclusion, Jay Clayton, SEC Enforcement

Categories & Topics: Business Ops/HR, Compliance, Diversity & Inclusion, Examinations, Industry Trends, Industry-Level, Registered Funds

Adviser that Self-Reported Recapture of Waived Expenses to Pay Disgorgement But No Penalty

Adviser that Self-Reported Recapture of Waived Expenses to Pay Disgorgement But No Penalty October 5, 2020   According to a recent SEC order, between January 2016 and February 2019, a...

October 05, 2020

Keywords: Fees and Expenses, SEC Enforcement

Categories & Topics: Business Ops/HR, Registered Funds