SEC CHARGES ADVISORY FIRM FOR FAILING TO DISCLOSE MULTIPLE CONFLICTS OF INTEREST
If you plan to sit for the Series 66 exam, make sure that you are familiar with the SEC's policy on Ethical Practices and Fiduciary Responsibilities , what they are and how you can avoid violating them. Bob Eder in his Study for the Series 66 Exam devotes a whole chapter to Ethical Practices and Fiduciary Responsibilities. Here is an interesting news release from the SEC describing one investment adviser's taking undisclosed monies from a movie producer as compensation for recommending investing in films of that production company. Warning: Don't take undisclosed money or compensation in return for steering your clients to specific investments! SEC Charges Hudson Valley Wealth Management Advisory Firm and Founder for Failing to Disclose Conflicts of Interest Firm owner received undisclosed fee for investing clients’ money in films FOR IMMEDIATE RELEASE 2024-55 Washington D.C., May 14, 2024 — The Securities and Exchange Commission today announc...