The SEC's Division of Enforcement announced the Share Class Selection Disclosure Initiative, a self-reporting initiative designed to protect advisory clients from undisclosed conflicts of interest and return money to investors. Under the initiative, the division will agree not to recommend financial penalties against investment advisers who self-report violations of Section 206 of the Investment Advisers Act of 1940 - which relates to certain mutual fund share class selection issues - and promptly return money to harmed clients.
SOURCE: Share Class Selection Disclosure Initiative
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