SEC Brings Share Class Selection Enforcement Action Involving Wrap Fee Accounts
The SEC fines an adviser for best execution and disclosure violations for placing wrap fee program clients in more expensive share classes.
May 13, 2022
New SEC Share Class Disclosure Cases Involve Wrap Fee Programs, Expense-Sharing Agreement
The SEC has fined a previously-registered adviser over $1 million for alleged breaches of fiduciary duty in connection with the adviser’s use in wrap fee programs of mutual fund share...
September 03, 2021
Dual-Registrant Pays Over $20 Million to Settle Share Class, Cash Sweep, and Illiquid Alt
The SEC has fined an Iowa-based dual-registrant over $20 million in connection with “disclosure failures and misleading statements to clients” arising from share class selection, revenue sharing, and compensation practices...
December 28, 2020
Tags: 12b-1 Fees, Conflicts, Disclosure, Registered Funds, Revenue Sharing, SEC Enforcement, Share Class Disclosure, Trading