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Adviser agrees to pay $2.4M to settle enforcement case
By causing certain advisory clients to invest in share classes of mutual funds that charged 12b-1 fees or share classes of money market funds that resulted in higher revenue sharing payments from Clearing Broker when share classes of the same funds were available to the clients that presented a more favorable value under the particular circumstances in place at the time of the transactions, Rothschild violated its duty to seek best execution for those transactions
