Mutual Funds

A routine FINRA cycle exam uncovered the issues

Goldstein fired back with a letter to the SEC laced with humor

The statement levels “the playing field for funds in states with control share statutes, but it doesn’t put an end to activism”

Large penalty even though dual registrant began reimbursing 12b-1 fees in 2016

Oxbow did not adequately disclose all material facts regarding the conflict of interest that arose when it invested advisory clients in a share class that ...

I echo the staff’s reminder to market participants that any actions taken by a board of a fund, including with regard to control share statutes, ...

The staff would not recommend enforcement action to the Commission against a closed-end fund under for opting in to and triggering a control share statute ...

Defendants also violated their fiduciary duty by failing adequately to disclose to their clients the conflict of interest inherent in these transactions

RBC disadvantaged certain retirement plan and charitable organization brokerage customers who maintained accounts at RBC

Making sure everyone’s on the same page is literally another challenge