- 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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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.
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Antitrust infringement cases in the United Kingdom can run on for years, but there’s a question whether issuing fines that are dwarfed by the revenues of those organisations involved is a worthy deterrent—particularly if they are imposed over a decade after the misconduct ended. It’s also debatable whether the first ...
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
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