By Jeff Dale2023-10-11T17:55:00
A Delaware-based investment adviser agreed to pay more than $1.3 million to settle charges by the Securities and Exchange Commission (SEC) it failed to disclose conflicts of interest and breached its fiduciary duty to clients.
Wilmington Trust Investment Management was fined $250,000 and agreed to pay disgorgement of nearly $1 million and prejudgment interest of more than $77,000, the SEC announced in an administrative proceeding Tuesday. The firm agreed to cease and desist from further violations and be censured in reaching settlement.
During a seven-month period in 2020, Wilmington Trust offered a wrap program for certain mutual funds but failed to disclose conflicts of interest associated with no-transaction fees offered through its clearing firm, the SEC alleged in its order.
2023-09-29T14:51:00Z By Kyle Brasseur
Citigroup Global Markets and Citi International Financial Services agreed to pay a total of nearly $2 million as part of a settlement with the Securities and Exchange Commission resolving allegations they violated the disclosure obligations of Regulation Best Interest.
2023-09-25T18:57:00Z By Jeff Dale
Wisconsin-based broker-dealer Carl M. Hennig agreed to pay a $50,000 fine to settle allegations by the Securities and Exchange Commission it failed to comply with Regulation Best Interest.
2023-09-22T20:56:00Z By Jeff Dale
California-based investment adviser American Infrastructure Funds agreed to pay more than $1.6 million to settle charges by the Securities and Exchange Commission regarding multiple breaches of its fiduciary duty to clients.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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