SEC Censures, Fines St. Louis Advisor Firm for Lax Cyber Policies
A firm that "failed entirely" to protect thousands of clients' data from a cyberattack will pay a $75,000 fine.
SEC Fines First Eagle, Affiliate $40 Million for Improperly Charging Shareholders
The firms used shareholder money instead of 12b-1 fees to pay for fund distribution, the SEC said. Similar enforcement actions could be in the offing.
SEC Makes Its First Bust in New Data-Driven Push
Did a Wisconsin advisor cherry-pick profitable trades? SEC's simulation showed the odds that he had merely gotten lucky were less than one in a million.
PE Firm KKR to Pay SEC $30M for Misallocating ‘Broken Deal’ Expenses
“This is the first SEC case to charge a private equity advisor with misallocating broken deal expenses,” said SEC's enforcement chief.
Mike Tyson’s Former Advisor Bilked Athletes at Live Nation-Owned Firm: SEC
Brian J. Ourand, former president of SFX, wired money to himself from client accounts, SEC says. The firm's CCO was fined for failing to supervise.
SEC Warns of Advisors Duping Investors With Fake Credentials
The SEC warned investors Wednesday to perform thorough background checks and brought two actions against advisors for falsifying credentials.
SEC Announces Compliance Outreach Seminars
The seminars will cover hot-button issues like cybersecurity, retirement planning and dual registrants.
SEC Fines BlackRock Over Energy Fund Manager Who Owned Oil Company
BlackRock Advisors will pay $12 million for not disclosing that a top manager's portfolio was heavily invested in a venture he had a stake in.
SEC to RIAs: Beware the Ides of ‘May’
Recent SEC enforcement actions should prompt advisors to review their Form ADV for a potentially dangerous word—“may”—relating to compensation and conflicts of interest.
SEC Reviewing 12b-1 Fees
The SEC is reviewing the entire spectrum of 12b-1 fees, the deputy exam director said Tuesday.