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SEC announces share class selection disclosure initiative

  • SEC (US Securities and Exchange Commission) Image

Feb 13, 2018

The SEC’s Division of Enforcement has announced its share class selection disclosure initiative.

The purpose of the initiative is “to protect advisory clients from undisclosed conflicts of interest and return money to investors.” Specifically, under the initiative, “the Division will agree not to recommend financial penalties against investment advisers who self-report violations of the federal securities laws relating to certain mutual fund share class selection issues and promptly return money to harmed clients.”

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