- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-09-22T20:56:00
A California-based investment adviser to private funds agreed to pay more than $1.6 million to settle charges by the Securities and Exchange Commission (SEC) regarding multiple breaches of its fiduciary duty to clients.
American Infrastructure Funds (AIF) was fined $1.2 million and agreed to pay $445,460 in disgorgement and prejudgment interest, the SEC announced in a press release Friday. The firm agreed to cease and desist from further violations of the Advisers Act and to be censured.
AIF breached fiduciary duty through three separate manners, the SEC alleged in its order.
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Wilmington Trust Investment Management agreed to pay more than $1.3 million to settle charges by the Securities and Exchange Commission it failed to disclose conflicts of interest and breached its fiduciary duty to clients.
The Securities and Exchange Commission ordered New York-based investment adviser Bruderman Asset Management and its principal to pay a total of $250,000 over their alleged failure to disclose misuse of profits raised from clients.
Mortgage Industry Advisory Corp. agreed to pay $100,000 to settle allegations levied by the Securities and Exchange Commission it failed to adopt and implement written compliance policies and procedures, conduct annual reviews, and establish and enforce a code of ethics.
DaVita, a multi-state dialysis provider, agreed to pay more than $34 million to resolve allegations it engaged in numerous kickback schemes to doctors who referred Medicare patients to its dialysis centers, the Department of Justice announced.
A multi-state hospice home health provider agreed to pay $19.4 million to settle allegations that it paid kickbacks and knowingly billed federal health programs to treat non-terminally ill patients.
California-based cancer testing company Guardant Health agreed to pay more than $945,000 to settle allegations levied by the Department of Justice of violating the False Claims Act and Stark Law.
