SEC orders firm to pay $1.3M for failing to disclose conflicts related to high-cost funds
'If you’re an investment advisor and you’re not putting your clients in the lowest-cost share class, then you’re running the risk of a fiduciary failure,' an expert says.
The SEC ordered a Delaware investment advisory firm to pay $1.3 million to settle charges that it placed clients in expensive mutual fund share classes without disclosing related conflicts of interest.
In an order posted Tuesday, the Securities and Exchange Commission said Wilmington Trust Invest
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