An investment adviser settled SEC charges for failing to fully disclose compensation paid to its affiliated broker-dealer for certain mutual fund transactions and related conflicts of interest.
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An investment adviser settled SEC charges for disclosure and conflict of interest violations related to mutual fund share classes offered through a no-transaction fee program in wrap accounts.
A broker-dealer settled FINRA charges for supervisory failures over sales of higher fee mutual fund share classes.
In a regulatory notice, FINRA reminded firms of their sales practice obligations to "alternative" registered investment companies, which FINRA defined as mutual funds that "seek to achieve their objectives through investments in non-traditional investment or asset classes."
In new guidance, FINRA offered recommendations on investment companies' use of sales charge discounts and waivers on investment company products.