- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-04-19T16:46:00
New York-based investment adviser Betterment agreed to pay $9 million to settle charges levied by the Securities and Exchange Commission (SEC) over material misstatements and omissions related to its automated tax loss harvesting (TLH) service.
The firm misstated or omitted material facts regarding the service, which scans clients’ accounts to reduce their tax burden, the SEC stated in its press release Tuesday.
Betterment also allegedly failed to provide clients with notice of changes to contracts, maintain required books and records, and adopt and implement written compliance policies and procedures to prevent violations of the Investment Advisers Act.
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2023-06-16T17:51:00Z By Kyle Brasseur
Pacific Investment Management Company agreed to pay a combined $9 million to resolve two separate actions brought by the Securities and Exchange Commission regarding alleged violations of the Advisers Act.
2023-04-03T19:21:00Z By Aaron Nicodemus
Three executives at the U.S. subsidiary of Australian defense contractor Austal Limited were charged with accounting fraud for allegedly participating in a three-year scheme to lower cost estimates and prematurely book revenue.
2023-03-29T17:02:00Z By Adrianne Appel
Brazilian mining company Vale agreed to pay $55.9 million to settle Securities and Exchange Commission charges it issued false and misleading statements regarding the safety conditions of its dams.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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