In the Margins

SEC charges AIG units over fund share class sales

March 16, 2016

By MarketWatch

The Securities and Exchange Commission has charged three units of American International Group with steering clients into more expensive mutual fund share classes so they could collect more fees. The firms—Royal Alliance Associates, SagePoint Financial, and FSC Securities Corp.—didn't admit or deny the charges, disgorged $2 million and paid a $7.5 million penalty. Read the original story from MarketWatch.

 

 

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