Action against Respondents, an investment adviser and its CEO, for alleged violations of the antifraud and compliance provisions of the federal securities laws.  According to the SEC, Respondents invested client funds in mutual fund share classes that charged 12b-1 fees when less expensive share classes were available.  The SEC alleges that Respondents failed to disclose conflicts of interest, violated the duty of best execution, and failed to maintain adequate compliance policies.  Respondents have agreed to pay, jointly and severally, disgorgement of $600,000, prejudgment interest of $31,746, and a civil penalty of $75,000.

SEC Order 

SEC Press Release 

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