News & Analysis as of

Securities and Exchange Commission (SEC) › Revenue Sharing › Disgorgement

Venable LLP

SEC Must Return $93 Million Penalty, First Circuit Says

Venable LLP on

The First Circuit, in a closely watched securities case, reversed a $93 million summary judgment ruling for the Securities and Exchange Commission this April. ...more

Seward & Kissel LLP

SEC Settles Charges Against Investment Advisers for Alleged Breaches of Fiduciary Duties

Seward & Kissel LLP on

Who may be interested: Registered Investment Advisers, Mutual Funds, Compliance Officers - Quick Take: The SEC settled charges against two affiliated registered investment advisers, alleging that the advisers failed to...more

Faegre Drinker Biddle & Reath LLP

The SEC Files Another Litigated Disclosure Case – With More Violations

Faegre Drinker Biddle & Reath LLP on

On August 29, 2019, the SEC filed a complaint against a registered investment adviser alleging failures to disclose four categories of conflicts of interest and seeking disgorgement of $10 million in undisclosed compensation....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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