Penalties imposed over potentially misleading information on non-waivable legal rights.
IAA 1940 Rule 206(4)
For firms balancing innovation with fiduciary duty, this is a timely opportunity to strengthen custody oversight, re-evaluate service providers, and prepare for future regulatory developments.
Recent cases highlight the SEC’s continuing focus on how financial incentives influence employee recommendations.
The company claimed in an ad that it “refuse[d] all conflicts of interest” without providing context, the SEC said, among other charges.
Vanguard and Empower allegedly created conflicts of interest by incentivizing advisers to steer clients toward fee-based services, minus the requisite disclosure.
The SEC has recently closed three very different but equally brazen fraud cases, each a window into a distinct form of financial misconduct.
Transamerica Retirement Advisors failed to disclose financial conflicts tied to retirement rollovers, affecting thousands of clients.
Momentum Advisors LLC, along with its former COO and CCO, were charged with violations related to the misuse of portfolio company assets.