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SEC Takes Action Against Adviser for Defrauding Retirees and Investors Nearing Retirement

by | Dec 23, 2019 | Cherry-Picking, Conflicts of Interest, Division of Investment Management News, Examination Priorities, Improper Share Class Selection, Investment Advisers Act, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC Investment Adviser Compliance, SEC Rules, Supervision Initiative, Uncategorized

On December 19, 2019, the SEC filed a complaint in federal court against a Sacramento, California-based investment advisory firm and its owner. The complaint alleged that the Registered Investment Adviser (RIA) and its owner defrauded hundreds of retail clients, most...