Tag: Conflicts of Interest
SEC Fines Adviser for Undisclosed Third-Party Loans to its IARs
The SEC brought an enforcement action against an Arizona-based investment adviser for failing to disclose to clients the existence of and conflicts of interest created by loans its investment adviser...
June 15, 2021
BDC Adviser Fined Over $800,000 for Accepting Fees Without Board Knowledge or Approval
The SEC has settled charges against a California-based investment adviser and its co-principal and managing member in connection with their failure to disclose or seek approval for material conflicts of...
June 15, 2021
Tags: Conflicts of Interest, Enforcement, Fees and Expenses, Fiduciary, Investment Company Act
SEC Fines Principal of Mutual Fund Adviser for Failure to Disclose Conflicts to the Fund
The SEC has fined a principal of a previously registered investment adviser $75,000 for failures to disclose certain conflicts of interest to a mutual fund client of the adviser. The...
May 18, 2021
Dual-Registrant Pays Over $18 Million to Settle Charges Related to Wrap Fee Program Fees, Monitoring
The SEC has fined a New Jersey-based dual-registrant over $18 million for breaches of fiduciary duty to advisory clients that participated in the firm’s wrap fee programs. The charges relate...
January 05, 2021
Tags: 12b-1 Fees, Best Execution, Conflicts of Interest, Disclosure, Fees and Expenses, Mutual Funds, Revenue Sharing, SEC Enforcement, Share Class Disclosure, Wrap Fees
SEC Co-Director of Enforcement Outlines Additional Areas of Undisclosed Conflicts
SEC Co-Director of Enforcement Outlines Additional Areas of Undisclosed Conflicts November 25, 2019 In a recent speech, Stephanie Avakian, Co-Director of the SEC’s Division of Enforcement, discussed the Division’s...
November 25, 2019
SEC Charges Adviser for Failing to Disclose Financial Conflicts of Interest
SEC Charges Adviser for Failing to Disclose Financial Conflicts of Interest February 27, 2020 The SEC has filed a complaint against a California-based investment adviser and its former co-owners...
February 27, 2020
Tags: Conflicts of Interest, Disclosure, Private Funds, SEC Enforcement
SEC Finds Breaches of Fiduciary Duty and Duty of Best Execution in Connection with Mutual Fund Share
SEC Finds Breaches of Fiduciary Duty and Duty of Best Execution in Connection with Mutual Fund Share Class Selection February 27, 2020 A Pennsylvania-based dual registrant agreed to pay...
February 27, 2020
Tags: Conflicts of Interest, SEC Enforcement, Share Class Disclosure
SEC Fines Two Advisers for Undisclosed Conflicts Related to Investments in the Same Enterprise
SEC Fines Two Advisers for Undisclosed Conflicts Related to Investments in the Same Enterprise March 11, 2020 The SEC has settled charges with New Jersey– and California-based investment advisers...
March 11, 2020
SEC Fines PE Fund Adviser $1.9 Million for Undisclosed Fee Practices, Criticizes Use of the Word “May” April 27, 2020 The SEC has settled charges with a New York-based private...
April 27, 2020
Tags: Conflicts of Interest, Fees and Expenses, Private Equity, SEC Enforcement
PA Adviser, Principals Face Share Class Selection and Disclosure Charges
PA Adviser, Principals Face Share Class Selection and Disclosure Charges SEC Compliant Alleges Best Execution and Disclosure Violations May 19, 2020 The SEC has filed a complaint against a...
May 19, 2020
Tags: 12b-1 Fees, Best Execution, Conflicts of Interest, SEC Enforcement, Share Class Disclosure
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