SEC Rule 206(4)-8
Deems it fraudulent for any investment adviser to a pooled investment vehicle to make any untrue statement of a material fact or to omit to state a material fact necessary ot make the statement made not misleading.
Overview
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More on IAA 1940 Rule 206(4)-8
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SEC charges Navy Capital with misrepresenting AML processes to investors
The SEC said the company represented to private fund investors that the firm was voluntarily complying with AML due diligence laws despite actual processes for same being used.
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SEC charges ESG RIA WisdomTree over inadvertent tobacco, fossil fuel investments
The charges arise from prospectuses stating that the company would exclude ESG-negative industries from its investments.
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SEC accuses Macquarie of overvaluing asset values, issues $80m penalty
The SEC said the business also favored certain advisory clients when directing and executing cross trades, in violation of its fiduciary duty.
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Deutsche Bank unit to pay $25m to settle SEC AML and greenwashing charges
Enforcement actions addressed a failure to develop a mutual fund AML programme along with misstatements in its ESG investment process.
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SEC charges CEO and President of Synergy Settlement Services with fraudulent operation of special needs pooled trusts
Defendants allegedly used funds from deceased beneficiaries’ accounts on golf tournaments and beach parties.