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

Top of the Agenda - Regulatory
In-person voting relief extended through year-end

Mutual fund boards can continue conducting business—including voting on contract approvals and renewals and other important matters—virtually through the end of 2020, according to the Securities ...

Top of the Agenda - Governance
Recruiting in the time of coronavirus

Mutual fund boards seem well on their way to mastering the art of conducting business virtually, but one area that may still be a challenge during ...