Tag Archives: Conflicts of Interest

SEC Brings an Enforcement Action Against an Investment Adviser’s Portfolio Manager for Failing to Disclose a Conflict of Interest Caused by Trying to Help His Daughter’s Career

January 20, 2023

The U.S. Securities and Exchange Commission (“SEC”) recently brought an enforcement action against an investment adviser’s  former portfolio manager of a closed-end investment company for allegedly failing to disclose a conflict of interest caused by the portfolio manager’s efforts to help his daughter’s acting career.

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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.

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