September 09, 2016 BY Valentina Kirilova

SEC charges two firms with compliance failures in wrap fee programs

The Securities and Exchange Commission (SEC) has announced that two investment advisory firms are settling charges related to compliance failures within their wrap fee programs. SEC investigations found that St. Petersburg, Fla.-based Raymond James & Associates and Milwaukee-based Robert W. Baird & Co. failed to establish policies and procedures necessary to determine the amount of commissions their…

Read more