SEC staff reminded broker-dealers and investment advisers of the obligation under Regulation Best Interest and the IAA fiduciary standard to act in a retail investor's best interest and disclose conflicts of interest.
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SEC Director of the Division of Investment Management William Birdthistle proposed changes to investment fund rules that would enhance disclosure requirements.
The SEC charged a New York-based "robo-adviser" with making false claims to investors, breaching its fiduciary duty, and committing related compliance failures.
An Arkansas-based broker-dealer, often serving as an underwriter, and its former CEO settled SEC charges for fair dealing violations arising from a municipal bond tender offer.
The SEC Division of Examinations observed compliance deficiencies related to environmental, social and governance products and services offered by investment advisers, registered investment companies and pooled investment vehicles.