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What the SEC’s Ongoing Vigilance of Mutual Fund Share Class Selection Means for Advisers

Regulators have showed renewed interest in investment fees in recent years. Specifically, the U.S. Securities and Exchange Commission (SEC) has heightened focus on advisers not complying with the Investment Advisers Act of 1940, when fully disclosing all material conflicts of … Read More

SEC Charges Valic Financial Advisors in Two Separate Actions with Disclosure Failures and Mutual Fund Selection Violations

On July 28, 2020, the Securities and Exchange Commission (“SEC”) announced it was charging Houston-based financial services firm, Valic Financial Advisors, Inc. (“VFA” or the “Firm”), a dually registered broker-dealer and investment adviser, in two separate actions for violations of … Read More

SEC Charges Investment Advisers for Failing to Disclose Conflicts of Interest

Strategic Planning Group (“SPG”) agreed to settle charges with The Securities and Exchange Commission (“SEC”) for failing to disclose a conflict of interest by consenting to a cease-and-desist order, censure, and civil penalties of $200,000. Its principals, David A. Rourke and … Read More

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