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SEC settles charges involving fiduciary duty lapses against firm, IA rep

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Photo: SEC

Julie DiMauro

2 min read
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Both had allegedly failed to adequately consider if it was in their clients’ best interest to convert brokerage accounts to advisory ones.

The SEC announced that it has filed settled charges against New York-based One Oak Capital Management LLC and its former investment adviser representative, Michael DeRosa. The charges are related to misconduct concerning advisory services provided to their retail clients.

The SEC’s investigation established that from June 2020 to October 2023,

The majority

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