The SEC's Division ofEnforcement will recommend that those scores of firms that haveself-disclosed violations of the 1940 Act will not be subject tocivil penalties, but will be required to return investment lossesthat resulted in costlier fund recommendations to affectedinvestors. (Photo: Diego Radzinschi/ALM)
The Security and Exchange Commission's Share ClassSelection Disclosure Initiative has brought the mutual fundrecommendations of “scores” of RIAs under investigation, accordingto the agency's FY 2018 Annual Report.
The SCSD Initiative launched in February and ended in June, andwas designed to rein in “potential widespread violations” of theInvestment Advisers Act of 1940.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.