The Securities and Exchange Commission (SEC) on Friday announced settled charges with the chief compliance officer of investment adviser VII Peaks Capital for her alleged role in causing the firm to breach fiduciary duties.

Michelle MacDonald agreed to a cease-and-desist order and to pay a $20,000 penalty as part of an agreement reached with the SEC. She neither admitted nor denied the agency’s findings.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...