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Fiduciary Duty › Investment Funds › Investment Advisers Act of 1940

Troutman Pepper Locke

SEC Charges TZP Management Associates With Breaching Fiduciary Duty by Overcharging Management Fees to Private Funds

Troutman Pepper Locke on

Last week, TZP Management Associates, LLC (TZP), a New York-based private equity investment adviser, agreed to pay more than $680,000 in monetary relief to settle charges brought by the Securities and Exchange Commission...more

McDermott Will & Schulte

SEC charges PE firm for alleged disclosure failures related to fee offsets

McDermott Will & Schulte on

On August 15, 2025, the US Securities and Exchange Commission (SEC) charged a New York-based private equity adviser (the Firm) with breaching its fiduciary duties by failing to adequately disclose its practices regarding the...more

Herbert Smith Freehills Kramer

SEC Sues Investment Adviser for Nondisclosure of Revenue Sharing Agreement Details

Herbert Smith Freehills Kramer on

On Aug. 1, the Securities and Exchange Commission (the SEC) charged Commonwealth Equity Services LLC, dba Commonwealth Financial Network (Commonwealth), a registered independent investment adviser to private clients (but not...more

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