- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-09-27T19:43:00
The Securities and Exchange Commission (SEC) ordered a New York-based investment adviser and its principal to pay a total of $250,000 over their alleged failure to disclose misuse of profits raised from clients.
Matthew Bruderman and his firm, Bruderman Asset Management, agreed to cease and desist from further violations and a censure in reaching settlement, the SEC announced in a press release Tuesday. The firm was also faulted for not implementing policies and procedures concerning disclosure of conflicts of interest.
The agency acknowledged remedial acts undertaken by the firm and Bruderman, including voluntarily repaying certain debts to clients totaling nearly $1.7 million.
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Investment adviser AssetMark agreed to pay more than $18 million to settle allegations by the Securities and Exchange Commission regarding undisclosed conflicts of interest involving its affiliate’s cash sweep program and its revenue-sharing arrangements with third parties.
Wisconsin-based broker-dealer Carl M. Hennig agreed to pay a $50,000 fine to settle allegations by the Securities and Exchange Commission it failed to comply with Regulation Best Interest.
California-based investment adviser American Infrastructure Funds agreed to pay more than $1.6 million to settle charges by the Securities and Exchange Commission regarding multiple breaches of its fiduciary duty to clients.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
