SEC
SEC Fines Morgan Stanley $1.5 Million for Fund Share Fraud
Morgan Stanley’s systems failed to put some retirement plan clients and charitable accounts into less expensive fund-share classes that were created for them.
SEC Orders 17 Firms to Pay $11 Million in Crackdown on 12b-1 Fee Disclosures
The Commission settled with 17 firms, including 16 who participated in its self-reporting initiative, over allegations they failed to failed to properly disclose conflicts related to receipt of 12b-1 ‘distribution’ fees from fund companies.
Michigan Firm Slammed Over Undisclosed 12b-1 Conflicts
SEC orders RIA affiliate of Parkland Securities and Sigma Financial to pay $2.5 million, the same day it fined Morgan Stanley $225,000 for unsuitable municipal bond sale recommendations.
