Los Angeles partner Fred Reish, Chicago partner Jim Lundy, and Chicago associate Ben McCulloch were referenced in an InvestmentNews article titled “SEC Cracks Down on Share-Class Disclosure After Self-Reporting Initiative Ends.”

The article examined the potential consequences for investment firms that failed to participate in the SEC’s Share Class Selection Disclosure Initiative. Jim and Ben’s recent piece for Investment Adviser Association Newsletter, “The First SEC Share Class Selection Disclosure Settlements: What We Learned & What’s Next?”, provided some color: “With certain of these firms, depending on the facts and circumstance, there is a risk that they will be made examples of and be subjected to significant monetary penalties, additional charges, and perhaps charges against individuals.”

Fred’s comments from a recent webinar focused on what the SEC may do next: “[t]he quality and quantity of investment advisers’ disclosure of conflicts of interest is under the SEC’s microscope now.”

Source: InvestmentNews
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