Compliance/disclosure failures cost adviser $900K

Creative failed to adopt and implement written policies and procedures reasonably designed to prevent violations of the Advisers Act and the rules thereunder in connection with disclosure of conflicts of interest presented by its mutual fund share class selection practices and revenue sharing practices, or in connection with making recommendations of mutual funds and mutual fund share classes that were in the best interests of its advisory clients

To read this article, you need to sign in.

You should only be asked to sign in once. Not the case? Click here

New to Regulatory Compliance Watch?

Register now to read this article and more for free.