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Trading Away Lands An ETF Strategist In Hot Water With the SEC

TedTed
in The Bullpen
FYI: Yesterday the regulatory agency unveiled an enforcement action against Richmond, Virginia-based RiverFront Investment Group. The SEC accuses RiverFront of inadequate disclosures of "trading away" practices in wrap programs where RiverFront is a subadvisor. RiverFront, which had nearly $5.4 billion in AUM at the end of 2015, settled the case without admitting to or denying the charges. The settlement includes a $300,000 fine.
Regards,
Ted
http://www.mfwire.com/common/artprint2007.asp?storyID=54415&wireid=2
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