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SEC fines Vanguard, Empower for misleading statements, conflicts of interest
Vanguard and Empower allegedly created conflicts of interest by incentivizing advisers to steer clients toward fee-based services, minus the requisite disclosure.
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SEC and beneficial owners – rethinking proxy voting in a complex system
Efforts to engage with beneficial owners and provide them with mechanisms for influencing governance outcomes appear to be converging with a broader regulatory push for transparency.
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SEC fines Transamerica for fiduciary disclosure failures
Transamerica Retirement Advisors failed to disclose financial conflicts tied to retirement rollovers, affecting thousands of clients.
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Supreme Court relaxes ERISA pleading standard
The outcome makes it substantially easier for beneficiaries to sue their fund administrators.
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SEC fines Momentum Advisors, two officers $500,000+ over fiduciary breaches
Momentum Advisors LLC, along with its former COO and CCO, were charged with violations related to the misuse of portfolio company assets.
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SEC settles charges involving fiduciary duty lapses against firm, IA rep
Both had allegedly failed to adequately consider if it was in their clients’ best interest to convert brokerage accounts to advisory ones.
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SEC’s Peirce outlines vision for keeping companies focused on maximizing value
Peirce’s prepared remarks at the Northwestern Securities Regulation Institute outlined seven principles a newly comprised securities watchdog should follow.
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Federal Judge rules American Airlines breached fiduciary duty over ESG-conscious investment
The surprising outcome sends shockwaves through an industry whose enthusiasm for ESG has diminished in recent years.