Tag: Share Class Disclosure
SEC Closes Out SCSD Initiative with Three Final Settlements
SEC Closes Out SCSD Initiative with Three Final Settlements April 18, 2020 The SEC has announced settled charges against three more investment advisers that self-reported in its Share Class...
April 18, 2020
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
SEC Brings More Share Class Selection Cases
SEC Brings More Share Class Selection Cases Settlement Involving Shareholder Servicing Fees Costs Adviser $18.4 Million June 10, 2020 The SEC Division of Enforcement’s continuing focus on share class selection...
June 10, 2020
The SEC has fined a Texas-based investment adviser a total of $40 million in two enforcement actions regarding failures to disclose certain practices by the adviser in connection with teacher...
August 11, 2020
Tags: 12b-1 Fees, Best Execution, Conflicts of Interest, Jay Clayton, Mutual Funds, Retirement Plans, Revenue Sharing, SEC Enforcement, Share Class Disclosure, Wrap Fees
Adviser Pays $750,000+ to Settle Share Class Selection, Revenue Sharing Charges
The SEC has brought an enforcement action against a California-based investment adviser in connection with share class selection practices and undisclosed revenue sharing agreements. Regarding share class selection, the SEC...
August 20, 2020
Tags: Revenue Sharing, SEC Enforcement, Share Class Disclosure
Louisiana Adviser Pays $2.3 Million to Settle Share Class Selection, Revenue Sharing, Other Charges
The SEC has brought an enforcement action against a dually-registered investment adviser and broker-dealer in connection with placing clients in fund share classes between January 2014 and May 2017 that...
October 05, 2020
Tags: 12b-1 Fees, Revenue Sharing, SEC Enforcement, Share Class Disclosure
In a 3-2 vote, the SEC has adopted amendments to the rule regarding the process for including shareholder proposals in issuers’ proxy statements, making it more difficult for shareholders to...
October 02, 2020
Tags: 12b-1 Fees, Best Execution, Conflicts of Interest, Money Market Fund, Mutual Funds, Revenue Sharing, SEC Enforcement, Share Class Disclosure
SEC Enforcement Breaks Records for Total Disgorgement, Penalties, and Whistleblower Awards
The SEC’s Division of Enforcement’s 2020 annual report shows a record in total monetary remedies during the fiscal year (FY) ended September 30, 2020 of $4.680 billion, as compared to...
November 05, 2020
Tags: Fees and Expenses, Insider Trading, MNPI, SEC Enforcement, Share Class Disclosure, Wrap Fees
New Case Shows Revenue Sharing a Top SEC Target
September 2019
September 01, 2019
Tags: Columns, From the General Counsel, Gail Bernstein, Share Class Disclosure
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