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Commonwealth Wins Reversal of $93M SEC Revenue Sharing Penalty
News April 02, 2025 at 09:49 AM
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What You Need To Know
- In 2024, a district court found the BD liable for failing to tell clients that some mutual fund share classes generated millions of dollars in revenue-sharing payments for the firm.
- The April 1 appeals court ruling vacates the grant of summary judgment and disgorgement.
- The appeals court remanded the case for further proceedings.
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