An investment adviser settled charges with the SEC for failing to disclose conflicts of interest to clients involving payments received by an affiliated custodian.
House Financial Services Subcommittee Chair Blaine Luetkemeyer (R-MO) requested information from the SEC and FINRA on their efforts to address "serious" national security issues raised by broker-dealers that have ownership connections to the Chinese Communist Party.
An investment adviser settled charges with the SEC for (i) misleading investors as to its ESG-related practices and (ii) failing to implement an AML program specific to its mutual funds business.
An investment adviser for private funds settled charges with the SEC for breach of fiduciary duty related to undisclosed account fees, transfers and accessibility.
Multiple trade associations urged the SEC to withdraw its proposal requiring broker-dealers and investment advisers to eliminate or neutralize conflicts of interest associated with the use of predicative data analytic technologies.