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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-09-22T20:56:00
A California-based investment adviser to private funds agreed to pay more than $1.6 million to settle charges by the Securities and Exchange Commission (SEC) regarding multiple breaches of its fiduciary duty to clients.
American Infrastructure Funds (AIF) was fined $1.2 million and agreed to pay $445,460 in disgorgement and prejudgment interest, the SEC announced in a press release Friday. The firm agreed to cease and desist from further violations of the Advisers Act and to be censured.
AIF breached fiduciary duty through three separate manners, the SEC alleged in its order.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
Register for free
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2023-10-11T17:55:00Z By Jeff Dale
Wilmington Trust Investment Management agreed to pay more than $1.3 million to settle charges by the Securities and Exchange Commission it failed to disclose conflicts of interest and breached its fiduciary duty to clients.
2023-09-27T19:43:00Z By Jeff Dale
The Securities and Exchange Commission ordered New York-based investment adviser Bruderman Asset Management and its principal to pay a total of $250,000 over their alleged failure to disclose misuse of profits raised from clients.
2023-09-12T20:28:00Z By Jeff Dale
Mortgage Industry Advisory Corp. agreed to pay $100,000 to settle allegations levied by the Securities and Exchange Commission it failed to adopt and implement written compliance policies and procedures, conduct annual reviews, and establish and enforce a code of ethics.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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