12b-1 Fee and Reverse Churning Allegations Dominate SEC Case against Advisers

Allegations involving multiple SEC red flags came together this month when the agency reached a settlement with three AIG Advisor Group subsidiaries. The areas of SEC interest include placement of clients in funds with 12b-1 fees when less expensive funds are available, dually registered advisers involved in reverse churning, and advisers that fail to follow through on examination deficiencies.
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