The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fewer Fundsters and RIAs Faced the SEC's Wrath This Year Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 16, 2017

Fewer Fundsters and RIAs Faced the SEC's Wrath This Year

Reported by Neil Anderson, Managing Editor

Fewer fundsters and RIAs faced the SEC's wrath over the last year, a drop seen across other SEC enforcement areas, too.

Yesterday Stephanie Avakian and Stevein Peikin, Co-Directors of the SEC's Enforcement Division, released their division's fiscal year 2017 annual report. The enforcement division brought 82 enforcement actions related to investment advisors and investment companys (i.e. RIAs and mutual funds), down 16 percent from 98 actions in FY 2016. That compares to an overall standalone enforcement action drop of 19 percent, from 548 in FY 2016 to 446 in FY 2017.

Enforcement action count in FY 2017 also fell for broker-dealer, insider trading, public finance abuse, FCPA, and NRSRO cases. Yet issuer reporting/audit & accounting, securities offering, market manipulation, and transfer agent cases all rose.

The report also highlights four mutual fund industry cases as among the SEC's "Noteworthy Enforcements Actions" of FY 2017. Those cases include: Barclays Capital paying more than $97 million in disgorgement and penalties over "improper advisory and mutual fund sales charges"; Morgan Stanley paying $8 million over recommendations related to inverse ETFs; Pimco paying nearly $20 million over misleading performance in its Total Return ETF; and SunTrust paying a $1.1-million penalty and refunding "avoidable fees" from using the wrong share classes. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use