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The weekly news source for investment management legal and compliance professionals

News January 29, 2018 Issue

Failure to Disclose Principal Trades May Lead to SEC Charges

The Advisers Act has strict requirements when it comes to self-dealing – and that includes principal trades. Just consider Section 206(3). It prohibits an adviser, while acting as a principal for his own account, from knowingly selling any security to or purchasing any security from any client without first disclosing to the client that he is doing so and obtaining the client’s consent.

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