Adviser Fined for Unlawful Cross-Trades and Principal Transactions
An adviser was fined for unlawful principal and cross-trades after implementing an automated trade matching program.
December 01, 2022
Tags: SEC Enforcement, Trading
Highlights from the SEC’s Outreach Program for Advisers and Funds
Summary of the SEC’s 2022 Investment Adviser/Investment Company National Seminar: Compliance Outreach Program.
November 17, 2022
Tags: SEC Enforcement, SEC Examinations, SEC Investment Management, SEC Outreach
Adviser Wins Jury Trial on Share Class Disclosure Charges
In a rare defeat for the SEC, an adviser won a jury trial involving share class disclosures.
November 11, 2022
Recordkeeping Cases Ensnare Large Brokers, RIAs Next
On the heels of a group of recent settlements of charges relating to record-preservation practices at large brokerage firms, the SEC is turning its attention to investment advisers – conducting an enforcement sweep of record-retention practices at large advisers of all types.
October 19, 2022
SEC Fines Adviser for Failing to Promptly Repay Money Borrowed from Private Fund
The SEC fined a private fund adviser for not promptly repaying a loan to a fund advised by the adviser.
October 13, 2022
Tags: Private Funds, SEC Enforcement
SEC Private Fund Adviser Enforcement Action Focuses on Undisclosed Cost Components of Fees
SEC brings enforcement actions against private fund advisers for charging unauthorized fees.
September 26, 2022
Tags: Private Funds, SEC Enforcement
SEC Case Spotlights Safeguarding and Disposal of Personal Information, Vendor Oversight
The SEC charged a large dual registrant with PII safeguarding and disposal deficiencies, in violation of Regulation S-P.
September 23, 2022
Tags: Dual Registrant, Reg S-P, SEC Enforcement
Adviser Fined for Proxy Voting Rule Violations, Strong Dissent by Commissioners Peirce and Uyeda
The SEC has fined an investment adviser for violating the Proxy Voting Rule, finding fault with standing instruction to third-party service provider to always vote with management.
September 23, 2022
Tags: Proxy Voting, SEC Enforcement
SEC Wrap Fee Case Focuses on Account Monitoring and Fees
SEC fines adviser for failing to monitor whether wrap fee program continued to be in clients’ best interest.
September 20, 2022
Tags: SEC Enforcement, Wrap Fees
SEC Charges Nine Private Fund Advisers with Custody, Form ADV Rule Violations
The SEC charged nine private fund advisers with custody and Form ADV deficiencies.
September 19, 2022
Tags: Form ADV, Custody, SEC Enforcement