Administrative Proceedings

The Commission’s complaint alleged that Respondent defrauded clients of his advisory firm, Atlas Capital Management, Inc., who had invested $5.7 million in a company he ...

Wedbush failed reasonably to supervise one of its registered representatives, Timary Delorme (“Delorme”), who engaged in manipulative trading activity of penny stocks over multiple years, ...

some mutual fund share classes charge 12b-1 fees to cover fund distribution and sometimes shareholder service expenses. These recurring fees, which are included in a ...

Respondent and its associated persons received 12b-1 fees in connection with these investments. Respondent failed to disclose in its Form ADV or otherwise the conflicts ...

Respondent was obligated to disclose all material facts to its clients, including any conflicts of interest between itself and/or its associated persons and its clients ...

Many mutual funds also offer share classes that do not charge 12b-1 fees (e.g., “Institutional Class” or “Class I” shares (collectively, “Class I shares”)).3 An ...

Mutual funds typically offer investors different types of shares or “share classes.” Each share class represents an interest in the same portfolio of securities with ...

These proceedings arise out of breaches of fiduciary duty and inadequate disclosures by registered investment adviser Raymond Lawrence Lent (dba The Putney Financial Group, Registered ...

Many mutual funds also offer share classes that do not charge 12b-1 fees (e.g., “Institutional Class” or “Class I” shares (collectively, “Class I shares”)).3 An ...

Respondent was required to give its clients sufficient information so that they could understand the conflicts of interest of the Respondent concerning its advice about ...