United States:
SEC Launches Share Class Selection Disclosure Initiative
19 February 2018
Kramer Levin Naftalis & Frankel LLP
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The SEC's Division of Enforcement announced the Share Class
Selection Disclosure Initiative, a self-reporting initiative
designed to protect advisory clients from undisclosed conflicts of
interest and return money to investors. Under the initiative, the
division will agree not to recommend financial penalties against
investment advisers who self-report violations of Section 206 of
the Investment Advisers Act of 1940 - which relates to certain
mutual fund share class selection issues - and promptly return
money to harmed clients.
SOURCE: Share Class Selection Disclosure
Initiative
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