IAA Today Archive

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

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

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

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

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

SEC Fines Adviser $40 Million for Lack of Disclosure in Connection With Teachers’ Retirement Plans and Share Class Selection SEC Chair Clayton Reminds Public of Initiative to Protect Teachers’ Retirement...

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