See why ACA Insight is the leading newsletter on regulatory compliance. Sign up for a free 1-week trial.

The weekly news source for investment management legal and compliance professionals

News December 7, 2015 Issue

Two Strikes: Adviser in Custody Case Faces Harsher Penalties the Second Time Around

Five years ago, the SEC settled with an adviser by charging the firm $60,000. Last month, when the agency settled with the adviser again in regard to similar violations, the SEC was a bit harsher: It raised the fine to $1 million, required the retention of a compliance monitor, set daily penalties for future failures to comply, and suspended the firm from the industry for a year.

Full contents of this article are only available to paid subscribers.

Subscribe to ACA Insight

Subscribe to ACA Insight for just $1,195! Subscribers receive: 46 electronic issues conveniently e-mailed to your desktops each Friday; access to archives of past stories; and breaking news e-mails.

Subscribe today to the weekly news source for investment management and legal compliance professionals.

Subscriber Log In

Forgot your password? Click Here.