Tag Archives: Conflicts of Interest
 

SEC Issues Cease and Desist Order Against Dual BD/RIA for Revenue Sharing on Money Market Cash Sweep

August 24, 2020

On August 13, 2020 the United States Securities and Exchange Commission (“SEC”) filed an order instituting administrative cease-and-desist proceedings to a dually registered investment adviser firm/introducing broker-dealer firm for allegedly failing to disclose material conflicts of interest related to its mutual fund share class selection practices, receipt of compensation pursuant to Rule 12b-1 under the Investment Company Act of 1940 (“12b-1 fees”), and money market revenue sharing agreements.

Continue Reading