AssetMark Fined $18M by SEC for Conflicts-of-Interest Violations

Sep 29, 2023 · AssetMark, a so-called turnkey asset-management platform, or TAMP, has agreed to pay more than $18 million to settle allegations of multiple financial conflicts of interest. The charges stem from ...

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AssetMark Fined $18M By SEC For Conflicts-of-Interest Violations

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AssetMark To Pay $18M To Settle Conflict Of Interest Charges Over …

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Sep 26, 2023 · Pgiam. AssetMark (NYSE:AMK) has agreed to pay more than $18M to settle allegations that its cash sweep program had created conflicts of interest for the investment …

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SEC Charges AssetMark For Failing To Disclose Cash Sweep Conflicts

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Sep 26, 2023 · The publicly-traded turnkey asset management platform AssetMark will pay $18 million to settle charges from the Securities and Exchange Commission that it failed to …

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AssetMark To Pay $18M Over SEC Financial Conflict Charges

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Law360 (September 26, 2023, 7:44 PM EDT) -- Investment adviser AssetMark Inc. agreed on Tuesday to pay more than $18 million to settle charges from the U.S. Securities and Exchange …

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AssetMark Fined $18 Million For Hiding Cash Sweeps And …

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Sep 27, 2023 · AssetMark agreed to pay more than $18 million to settle allegations it failed to disclose conflicts of interest on cash sweep programs and revenue-sharing payments it …

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SEC Charges California Advisory Firm AssetMark For Failing To …

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This order includes censure, compliance with specific undertakings, and the payment of a civil penalty totaling $9.5 million. Additionally, AssetMark will disgorge over $8.5 million in revenue, …

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SEC Fines RIA $18 Million For Failing To Disclose Cash Sweep …

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Sep 28, 2023 · The Securities and Exchange Commission announced that Concord, California-based registered investment adviser AssetMark Inc. has agreed to pay more than $18 million …

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SEC Orders AssetMark To Pay $18M In Conflicts Of Interest Case

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By Jeff Dale Wed, Sep 27, 2023 11:23 AM. California-based investment adviser AssetMark agreed to pay more than $18 million to settle allegations by the Securities and Exchange …

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AssetMark To Pay $18.3M Over Revenue Sharing - ThinkAdvisor

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Sep 26, 2023 · The Securities and Exchange Commission said Tuesday that it had reached a settlement with AssetMark Inc. over the firm's failure to adequately disclose conflicts of interest …

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AssetMark Settles SEC Cash Sweeps Case | Financial Planning

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Sep 26, 2023 · AssetMark to pay $18M to resolve alleged 'cash sweeps' conflicts. The investment technology and support firm AssetMark has reached an $18 million settlement with the SEC …

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SEC Fines AssetMark $18m Over Alleged Disclosure Failures - Citywire

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Sep 26, 2023 · By Sam Bojarski. AssetMark has agreed to pay over $18m to settle charges from the Securities and Exchange Commission (SEC) that it failed to disclose conflicts related to a …

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SEC Orders AssetMark Inc. To Pay $18 Million To Settle Charges Of ...

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The order finds that AssetMark has violated the antifraud and compliance provisions of the Investment Advisers Act and as such has consented to a cease-and-desist order requiring it to …

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AssetMark To Pay $18 Million Over Disclosure Failures - Barron's

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Sep 26, 2023 · Text. AssetMark agreed to pay more than $18 million to settle allegations that it didn’t disclose conflicts of interest involving a cash sweep program and revenue-sharing …

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AssetMark To Pay $18 Million Over Disclosure Failures

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Sep 27, 2023 · AssetMark agreed to pay more than $18 million to settle allegations that it didn’t disclose conflicts of interest involving a cash sweep program and

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Trump-linked SPAC Settles SEC Fraud Charges For Proposed $18M

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Jul 21, 2023 · SEC orders AssetMark to pay $18M in conflicts of interest case 2023-09-27T18:23:00Z By Jeff Dale Investment adviser AssetMark agreed to pay more than $18 million …

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FAQs about AssetMark Fined $18M by SEC for Conflicts-of-Interest Violations Coupon?

Did Assetmark disclose conflicts of interest?

AssetMark agreed to pay more than $18 million to settle allegations that it didn’t disclose conflicts of interest involving a cash sweep program and revenue-sharing payments from custodians, the Securities and Exchange Commission said Tuesday. ...

Why did Assetmark pay $18 million?

AssetMark, a so-called turnkey asset-management platform, or TAMP, has agreed to pay more than $18 million to settle allegations of multiple financial conflicts of interest. The charges stem from a cash sweep program operated by its affiliated custodian, and the receipt of millions of dollars in revenue-sharing payments from third-party custodians. ...

Did Assetmark pay a penalty without denying SEC findings?

AssetMark (ticker: AMK), a technology and asset management services provider, agreed to pay the penalty without admitting or denying the SEC’s findings. A spokeswoman for the company declined to comment. “Investment... Welcome to Barron’s Advisor! Our content is free but available only to wealth management professionals. ...

Did Assetmark set a fee for the cash sweep program?

“AssetMark did not advise clients that it helped set the fee that its affiliate custodian received for operating the cash sweep program,” the SEC order reads in part. That fee reduced the amount of interest paid to clients whose cash was automatically swept into affiliated accounts. ...

Does Assetmark have a cease-and-desist order?

Without admitting or denying the SEC’s findings, AssetMark consented to a cease-and-desist order requiring it to be censured, comply with certain undertakings and pay a civil penalty of $9.5 million and disgorgement and prejudgment interest of more than $8.5 million, all of which will be distributed to harmed investors. ...

Did Assetmark violate antifraud and Compliance Provisions of the Investment Advisers Act?

The SEC’s order finds that AssetMark violated the antifraud and compliance provisions of the Investment Advisers Act. AssetMark, a publicly traded company trading under the ticker AMK, didn't respond to a request for comment for this story. ...