An investment adviser was fined for failing to adequately investigate concerns raised about the miscalculation of "risk share" returns used by a Pennsylvania public pension plan, and for material misstatements and omissions about the reasons for the miscalculation.
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U.S. Representatives French Hill (R-AR), David Scott (D-GA), and Ann Wagner (R-MO) urged the DOL to "cease its efforts" to adopt the "Retirement Security Rule" proposal "to prevent needlessly inflicting harm on millions of retirement savers across the country."
FINRA collated SEC staff bulletins and FINRA resources to improve member compliance with Regulation Best Interest.
A broker settled FINRA charges for distributing research notes to sales and trading personnel, and select customers, in advance of the publication of the official research report.
An investment adviser for private funds settled charges with the SEC for breach of fiduciary duty related to undisclosed account fees, transfers and accessibility.