Sweep account revenue sharing gets another adviser in trouble

Beginning in December 2020, USAFS converted its clients from existing money market funds used in Sweep Accounts that paid revenue sharing to USAFS, to different money market funds that did not pay revenue sharing, which were also lower-cost and higher-yielding money market funds. USAFS substantially completed this conversion in January 2021

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.