Registered investment adviser City National Rochdale (CNR) has agreed to pay $30.4 million in a settlement with the Securities and Exchange Commission (SEC) for conflict-of-interest violations.

Under the settlement, announced Thursday, CNR will pay disgorgement of approximately $22 million, prejudgment interest of $2.85 million, and a civil penalty of $5.5 million. The money will be placed in a fund for distribution to harmed investors, the SEC said.

Learn More
Already a member? Sign in to an existing account.

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,...