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SEC Enforcement Actions Signal Continued Scrutiny of 12b-1 Fees, Revenue Sharing Arrangements, and Wrap Fee Programs

by | Sep 29, 2021 | 12b-1 Fees, Division of Examinations, Fiduciary Duty, Registered Investment Advisers (RIAs), RIA Compliance, SEC Rules, Uncategorized, Wrap fee

In recent weeks, the SEC has continued to bring enforcement actions against Registered Investment Advisers (RIAs) that breached their fiduciary duty to advisory clients. These enforcement actions demonstrate the SEC’s concerns about RIAs that breach their fiduciary...

SEC Releases Findings from its Wrap Fee Initiative Examinations

by | Jul 27, 2021 | Division of Examinations, Examination Priorities, FORM CRS/Form ADV Part 3, Investment Adviser Representative, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC NEWS, Uncategorized, Wrap fee

Wrap fee programs have been on the SEC’s radar for quite a while. When the SEC published its annual examination priorities in 2017, 2018, and 2019, wrap fee programs were mentioned as putting investors at risk. On July 21, 2021, the SEC’s Division of Examinations...