In the Margins

Ameriprise settles with SEC

March 6, 2018

By Barron's

Ameriprise has agreed to settle Securities and Exchange Commission charges that it overcharged retirement account customers for mutual fund shares. According to the SEC, some retirement account customers were disadvantaged by the firm’s failure to determine the availability of less expensive mutual fund share classes. Ameriprise also didn’t disclose it would be compensated better for its more expensive recommendations or that the purchases would hurt customers’ overall return. Read the original story from Barron's.

 

 

Most Read

Viewpoints
Op-Ed: Whither valuation guidance?

The Securities and Exchange Commission should issue valuation guidance for investment companies. When I was chief counsel in the SEC's Division of Investment Management from 1997 ...