{"id":1165,"date":"2021-08-25T19:31:17","date_gmt":"2021-08-25T19:31:17","guid":{"rendered":"http:\/\/localhost\/?p=1165"},"modified":"2021-08-25T19:31:17","modified_gmt":"2021-08-25T19:31:17","slug":"sec-sanctions-robo-adviser-for-inadequate-conflicts-disclosures-failure-to-consider-tax-impact-of-proprietary-etfs","status":"publish","type":"post","link":"https:\/\/bdia.pli.edu\/index.php\/2021\/08\/25\/sec-sanctions-robo-adviser-for-inadequate-conflicts-disclosures-failure-to-consider-tax-impact-of-proprietary-etfs\/","title":{"rendered":"SEC Sanctions Robo Adviser for Inadequate Conflicts Disclosures, Failure to Consider Tax Impact of Proprietary ETFs"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Not long after we released our recent alert titled\u00a0<\/span><a style=\"font-weight: 400;\" href=\"https:\/\/www.kilpatricktownsend.com\/en\/Insights\/Alert\/2021\/8\/SEC-Continues-Focus-on--Conflicts-Disclosures-in-Enforcement-Actions-Totaling-$106-Million-in-Fines-and-Disgorgement\">SEC Continues Focus on Conflicts Disclosures in Enforcement Actions Totaling $106 Million in Fines and Disgorgement<\/a><span style=\"font-weight: 400;\">, the SEC\u00a0<\/span><span style=\"font-weight: 400;\">entered into another consent order (the \u201c<\/span><b><strong><em>Order<\/em><\/strong><\/b><span style=\"font-weight: 400;\">\u201d) with an internet-based registered investment adviser (\u201c<\/span><b><strong><em>Robo Adviser<\/em><\/strong><\/b><span style=\"font-weight: 400;\">\u201d) that sanctioned the adviser for failing to provide full and fair disclosure regarding conflicts of interest relating to proprietary products, and for failing to consider tax consequences associated with trades made within an automated advisory program.<\/span><a style=\"font-weight: 400;\" href=\"#_edn1\" name=\"_ednref1\">[i]<\/a><span style=\"font-weight: 400;\">\u00a0\u00a0<\/span><span style=\"font-weight: 400;\">This Order serves as another example of the SEC\u2019s continuing focus on the importance of firms identifying, and then accurately disclosing, actual or potential conflicts of interest and how those conflicts could impact clients.<\/span><\/p>\n<p><a href=\"https:\/\/www.kilpatricktownsend.com\/Blog\/Investment-Management-and-Broker-Dealer\/2021\/8\/SEC-Sanctions-Robo-Adviser-for-Inadequate-Conflicts-Disclosures-Failure-to-Consider-Tax-Impact-of\">Read more here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not long after we released our recent alert titled\u00a0SEC Continues Focus on Conflicts Disclosures in Enforcement Actions Totaling $106 Million in Fines and Disgorgement, the SEC\u00a0entered into another consent order (the \u201cOrder\u201d) with an internet-based registered investment adviser (\u201cRobo Adviser\u201d) that sanctioned the adviser for failing to provide full and fair disclosure regarding conflicts of &hellip; <a href=\"https:\/\/bdia.pli.edu\/index.php\/2021\/08\/25\/sec-sanctions-robo-adviser-for-inadequate-conflicts-disclosures-failure-to-consider-tax-impact-of-proprietary-etfs\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">SEC Sanctions Robo Adviser for Inadequate Conflicts Disclosures, Failure to Consider Tax Impact of Proprietary ETFs<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":94,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,24,22],"tags":[],"class_list":["post-1165","post","type-post","status-publish","format-standard","hentry","category-compliance","category-enforcement","category-standard-of-care"],"aioseo_notices":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/94"}],"replies":[{"embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=1165"}],"version-history":[{"count":0,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1165\/revisions"}],"wp:attachment":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=1165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=1165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=1165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}