- 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.
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
2025-04-11T08:00:00Z By Adrianne Appel
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.
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