March 11, 2019

SEC's Self-Report Project Nabs $125M in Deals with 79 Firms

Chicago partner Jim Lundy spoke to Law360 for an article entitled “SEC's Self-Report Project Nabs $125M in Deals with 79 Firms.” The SEC recently announced settlements with 79 investment advisors that self-reported under the terms of the Share Class Selection Disclosure Initiative, which was aimed at investment advisors that had guided clients to mutual fund classes with higher fees. The SEC launched the SCSD Initiative, with the goal of maximizing self-reporting, cooperative settlements, and improved disclosures of these conflicts of interest. Jim noted that the agency prioritized finalizing this first group of SCSD Initiative settlements following the recent government shutdown.

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