A dually registered investment adviser and broker-dealer was penalized for failing to adequately and periodically review wrap fee accounts to identify instances of "reverse churning."
An investment adviser settled SEC charges for failing to comply with the independent verification requirement for client assets over which the adviser was deemed to have custody.
The SEC Office of Investor Education and Advocacy encouraged investors to understand advertised performance metrics prior to making an investment decision.
Four investment advisers settled charges for violating the SEC's "pay-to-play" rule by accepting compensation from "government entities" for advisory services during the rule's "time out" period after one or more covered associates of each adviser made campaign contributions.
A venture capital investment adviser settled SEC charges for making unauthorized loans from funds it managed and for failing to disclose such loans to investors.