By Jeff Dale2023-04-19T16:46:00
New York-based investment adviser Betterment agreed to pay $9 million to settle charges levied by the Securities and Exchange Commission (SEC) over material misstatements and omissions related to its automated tax loss harvesting (TLH) service.
The firm misstated or omitted material facts regarding the service, which scans clients’ accounts to reduce their tax burden, the SEC stated in its press release Tuesday.
Betterment also allegedly failed to provide clients with notice of changes to contracts, maintain required books and records, and adopt and implement written compliance policies and procedures to prevent violations of the Investment Advisers Act.
2023-06-16T17:51:00Z By Kyle Brasseur
Pacific Investment Management Company agreed to pay a combined $9 million to resolve two separate actions brought by the Securities and Exchange Commission regarding alleged violations of the Advisers Act.
2023-04-03T19:21:00Z By Aaron Nicodemus
Three executives at the U.S. subsidiary of Australian defense contractor Austal Limited were charged with accounting fraud for allegedly participating in a three-year scheme to lower cost estimates and prematurely book revenue.
2023-03-29T17:02:00Z By Adrianne Appel
Brazilian mining company Vale agreed to pay $55.9 million to settle Securities and Exchange Commission charges it issued false and misleading statements regarding the safety conditions of its dams.
2025-08-29T17:48:00Z By Ruth Prickett
The U.K. will start cracking down on companies under the new Failure to Prevent Fraud law on Sept. 1, with the Crown Prosecution Service and Serious Fraud Office ready to enforce it.
2025-08-28T18:44:00Z By Adrianne Appel
The Trump administration has intensified its fight with California as the DOJ launched an investigation into whether the state’s environmental agency is violating federal law by pursuing racial equity.
2025-08-27T14:11:00Z By Adrianne Appel and Oscar Gonzalez
Synapse Financial Technologies, the troubled California fintech software provider, has agreed to let the Consumer Financial Protection Bureau (CFPB) eventually file a claim on its bankrupt estate.
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