An investment adviser and its CIO settled SEC charges in connection with an alleged scheme to unduly stall the liquidation of assets after two hedge fund clients attempted to redeem their investments.
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An investment adviser settled SEC charges for failing to fully disclose compensation paid to its affiliated broker-dealer for certain mutual fund transactions and related conflicts of interest.
An investment adviser settled SEC charges for disclosure and conflict of interest violations related to mutual fund share classes offered through a no-transaction fee program in wrap accounts.
A dual-registrant settled SEC charges for (i) failing to adequately train its financial advisers on a complex options strategy sold to clients, and (ii) failing to implement a reasonable supervisory system that would provide adequate oversight.
SEC Director of the Division of Investment Management William Birdthistle proposed changes to investment fund rules that would enhance disclosure requirements.