SEC
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SEC Continues Revenue Share Conflict Enforcement Priority – Cash Sweeps
- August 9, 2021
- Posted by: giawatkins
- Category: SEC
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As predicted in its 2021 Priorities Letter, the SEC has recently brought several enforcement actions against RIAs for failure to disclose conflicts involved in revenue sharing. In one case, the SEC alleged that the dual registrant RIA failed to disclose the conflicts involved in selecting cash sweep options offered through its Clearing Firm’s platform. According
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SEC Review of RIA Mutual Fund Revenue Disclosures – It’s Not Just 12b-1 fees!
- October 18, 2019
- Posted by: giawatkins
- Category: SEC
The SEC recently announced its second wave of 12b-1 SCSD Amnesty Settlements. It included one firm that was not a participant in the self-reporting initiative. It has also signaled that they are continuing to see these problems on exams, with firms who did not self-report. More troubling, but not surprising is the expected expansion of
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SEC to Chase New Share Class Cases Under ‘Best Interest’ Rules
- July 8, 2019
- Posted by: giawatkins
- Category: SEC
SEC to Chase New Share Class Cases Under ‘Best Interest’ Rules Article published on July 8, 2019 By Jill Gregorie The SEC’s efforts to weed out instances of conflicted advice are far from finished, even after settling 79 cases of share class overcharges earlier this year. The four-month amnesty period that the Securities and Exchange Commission
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CFI Sourced for Expertise on FINRA’s 529 Plan Initiative
- March 25, 2019
- Posted by: giawatkins
- Category: FINRA, SEC
Slammed by Fines, Distributors Move to Fewer Share Classes, Simpler Sales Terms Article published on March 25, 2019 By Jill Gregorie Mounting regulatory pressure will push funds to slim down the number of share classes they make available, consultants say. Earlier this month, the Securities and Exchange Commission announced settlements with 79 advisory arms of broker-dealers
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John Ivan comments on SEC Amnesty for Ignites
- May 17, 2018
- Posted by: giawatkins
- Category: SEC
Managing Director John Ivan commented for Ignites, an FT publication, on the industry’s efforts to volunteer information in advance of the SEC’s June 12th deadline for amnesty involving overcharging of clients.
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SEC Enforcement Division Provides Additional Clarification for SCSD Initiative
- May 2, 2018
- Posted by: giawatkins
- Category: SEC
The Securities and Exchange Commission’s Share Class Selection Disclosure (SCSD) Initiative, announced on February 12, seeks to protect advisory clients from, and return money to, those affected by undisclosed conflicts of interest. Under the SCSD Initiative, the SEC’s Enforcement Division will recommend standardized, favorable settlement terms to investment advisers who self-report that they failed to disclose conflicts of
