All conflict of interest articles
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News BriefFINRA orders Barclays unit to pay $700K over conflicts of interest
A Barclays unit agreed to pay $700,000 to settle allegations levied by the Financial Industry Regulatory Authority that its research analysts violated conflict-of-interest rules and the firm failed to sufficiently supervise their trades.
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News BriefLyft fined $10M for not disclosing board member’s role in pre-IPO stock sale
Ridesharing company Lyft agreed to pay a $10 million penalty to settle allegations by the Securities and Exchange Commission it failed to disclose a pre-initial public offering stock deal that netted a member of its board millions of dollars.
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News Brief
Insight Partners fined $1.5M over excess fees, conflicts of interest
Insight Venture Management agreed to pay a $1.5 million penalty in settling with the Securities and Exchange Commission for allegedly overcharging management fees and failing to disclose conflicts of interest regarding fee calculations.
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News Brief
SEC fines Corvex Management $1M for SPACs conflicts
Corvex Management agreed to pay $1 million to settle allegations it failed to disclose personnel ownership in certain sponsors of special purpose acquisition companies and didn’t have policies and procedures reasonably designed to thwart conflicts of interest.
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News Brief
Moors & Cabot to pay $1.9M for conflict of interest disclosure lapses
Investment adviser Moors & Cabot reached a $1.9 million settlement with the Securities and Exchange Commission over allegations the firm didn’t fairly disclose conflicts of interest associated with incentive payments it received from two unaffiliated clearing brokers.
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ArticleS&P Global fined $2.5M over conflict of interest lapses
Credit rating agency S&P Global Ratings agreed to pay $2.5 million and improve its compliance practices to settle allegations by the SEC that its marketing team pressured the ratings team concerning the rating of a particular mortgage-backed security transaction.
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ArticleCetera affiliates fined $1M each over conflicts of interest
A pair of investment advisers owned by Cetera Financial Group must pay a total of more than $8.6 million as part of a final judgment obtained by the Securities and Exchange Commission alleging the defrauding of Cetera advisory clients.
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Article
Aventura Capital to pay nearly $1M over conflict disclosure lapses
Florida-based investment firm Aventura Capital Management agreed to return more than $700,000 to harmed investors and pay a $225,000 fine for failing to disclose conflicts of interest regarding its mutual fund share class selection process.
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ArticleSEC: Adherence to Reg BI should be embedded in compliance culture
Staff at the Securities and Exchange Commission warned investment advisers and broker-dealers they must continually identify, mitigate, and disclose all conflicts of interest regarding advice they make to retail investors to remain in compliance with Regulation Best Interest.
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ArticleBlueCrest facing $55.5M fine for failing to manage fairly a conflict of interest
The U.K. Financial Conduct Authority announced its intention to fine hedge fund BlueCrest Capital Management £40,806,700 (U.S. $55.5 million) for failing to manage fairly a conflict of interest. BlueCrest has challenged the decision.
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ArticleSEC brings first-ever actions enforcing 2016 municipal advisor rule
The Securities and Exchange Commission charged Choice Advisors and two of its principals in its first enforcement actions under a non-solicitor municipal advisors rule that took effect in 2016.
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ArticleTIAA subsidiary to pay $97M over wealth advisory sales practices
A subsidiary of the Teachers Insurance and Annuity Association of America has agreed to pay $97 million to settle charges of inaccurate and misleading statements and failing to adequately disclose conflicts of interest regarding employer-sponsored retirement plans.
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ArticleMoody’s fined $4.4M for European conflict-of-interest violations
Five European subsidiaries of Moody’s Corp. have been fined a total of €3.7 million (U.S. $4.4 million) by the European Securities and Markets Authority for violating conflict-of-interest rules.
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Article
Split SEC loosens conflict-of-interest rules for independent auditors
The Securities and Exchange Commission has moved forward with relaxing its conflict-of-interest rules for independent auditors by a 3-2 vote.
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Article
SEC risk alert provides compliance roadmap for investment advisors
A risk alert issued recently by the SEC examines disclosure deficiencies by investment advisors managing private funds.
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Article
CCOs face SEC charges over conflicts of interest
Two chief compliance officers—one former, one current—are facing charges from the SEC as part of a lawsuit filed against a California-based investment advisory firm over failure to disclose financial conflicts of interest.
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Article
Hong Kong’s SFC fines RHB Securities Hong Kong $6.4M
Hong Kong’s Securities and Futures Commission has fined RHB Securities Hong Kong $6.4 million for failing to comply with regulatory requirements on conflicts of interest and supervision of account executives.
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ArticleSelf-disclosure can root out conflicts of interest
The world is a complicated place. Life choices and side hustles are increasingly pushing employees toward potential conflicts of interest. A solid risk management strategy can keep them happy while creating the visibility needed to protect company interests.
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Blog
What is a conflict of interest?
A look at the case of Dr. Brenda Fitzgerald, the now former head of the Center for Disease Control, who invested in tobacco stocks after she became director.
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Blog
Conflict of Interest—the revolving door turns both ways
A look at the case of U.K. entity HS2, the taxpayer-owned company building Britain’s new high-speed rail line, which recently revoked a key contract amid allegations of conflicts of interest involving the U.S. engineering firm CH2M.