Action against Respondents, an investment adviser and broker-dealer and its owner and chairman, for alleged failure to disclose conflicts of interest.  According to the SEC, Respondents did not disclose that a clearing broker shared mutual fund revenues with Respondents and that Respondents kept portions of client fees paid to the broker.  The SEC further alleges that Respondents’ procedures were inadequate to ensure best execution.  Respondents have agreed to jointly and severally pay $408,483.06 in disgorgement, $60,458.14 in prejudgment interest, and a civil penalty of $130,000.

SEC Order 

SEC Administrative Summary