An investment services subsidiary of a bank agreed to settle charges with the SEC in relation to allegations that the firm improperly collected avoidable fees from clients.
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The SEC Division of Corporation Finance waived any disqualification under Rule 506 of Regulation D for Leon G. Cooperman and his hedge fund, Omega Advisors, Inc.
The SEC Division of Corporation Finance granted no-action relief to Voya Financial Advisors, Inc. from being considered an ineligible issuer, subject to certain conditions.
Morgan Stanley Smith Barney, LLC agreed to pay an $8 million penalty to settle SEC charges alleging that the firm, which was dually registered as an investment advisor and broker-dealer, had failed to implement written compliance policies and procedures.
The SEC Division of Corporation Finance waived the disqualification of an investment management firm under the "bad actor" provisions of Rule 506(d) of Regulation D of the Securities Act.