IAA Today Archive

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

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

SEC Enforcement Breaks Records for Total Disgorgement, Penalties, and Whistleblower Awards

SEC Enforcement Breaks Records for Total Disgorgement, Penalties, and Whistleblower Awards November 5, 2020   The SEC’s Division of Enforcement’s 2020 annual report shows a record in total monetary remedies...

November 05, 2020

Keywords: Fees and Expenses, Insider Trading, MNPI, SEC Enforcement, Share Class Disclosure, Wrap Fees

Categories & Topics: Business Ops/HR, Compliance, Insider Trading, Wrap Fee

SEC Adopts Amendments to Shareholder Proposal Rule, Raising the Bar for Submission and Resubmission of Shareholder Proposals

SEC Adopts Amendments to Shareholder Proposal Rule, Raising the Bar for Submission and Resubmission of Shareholder Proposals October 2, 2020   In a 3-2 vote, the SEC has adopted amendments...

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 Charges Dual-Registrant in Connection with Share Class Disclosures and Principal Trading Violations

SEC Charges Dual-Registrant in Connection with Share Class Disclosures and Principal Trading Violations November 25, 2019   The SEC filed a complaint against a Massachusetts-based dual-registrant for failing to disclose...

November 25, 2019

Keywords:  Dual Registrant, Massachusetts, SEC Enforcement, Share Class Disclosure

Categories & Topics: Brokerage & Trading, Business Ops/HR, Compliance, Enforcement