An investment adviser settled charges with the SEC for breach of fiduciary duty after failing to properly evaluate whether leveraged exchange traded funds were in the best interests of its clients.
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An investment adviser settled charges with the SEC for inaccurately describing investments in periodic reports.
Two affiliated investment advisers settled SEC charges for failing (i) to disclose conflicts of interest associated with certain revenue sharing agreements and (ii) to seek best execution for their clients.
An annuities firm agreed to settle FINRA charges for misrepresenting the nature of a portfolio containing several retirement bond funds.
The CFTC settled charges against an investment bank that failed to disclose certain conflicts of interest to clients. Specifically, the bank failed to disclose its preference for investing client funds in certain commodity pools or exempt pools, namely hedge funds and mutual funds managed and operated by an affiliate and subsidiary of the bank. The CFTC required the bank to pay a $40 million civil monetary penalty, to disgorge $60 million and to cease and desist from further violations.