- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-09-07T20:07:00
A Florida-based investment firm agreed to return more than $700,000 to harmed investors and pay a $225,000 fine for failing to disclose conflicts of interest regarding its mutual fund share class selection process.
Aventura Capital Management agreed to settle charges levied by the Securities and Exchange Commission (SEC) it violated the antifraud, principal trading, and compliance provisions of federal securities laws when it selected mutual funds for clients that collected fees for its broker-dealer affiliate, Aventura Securities, when other similarly priced mutual funds did not produce similar fees for the firm.
Aventura Securities received mark-ups and mark-downs on certain trades where Aventura Capital did not provide written disclosure or obtain prior consent from clients in advance of the transaction, the SEC said.
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