Prudential subsidiary Pruco Securities will pay approx$18.3 million to settle an SEC investigation concerning alleged breaches of its fiduciary duty related to the firm’s mutual fund share class selection and wrap fee programs. The SEC says that Pruco, a registered investment adviser and broker-dealer, recommended clients buy and hold mutual fund share classes paying...

  The SEC says that between 2015 and 2018, the brokerage company Robinhood made misleading  omissions about routing customer orders, known as “payments for order flow,” which constituted its largest source of income. The SEC says that because the firm received “unusually high payment for order flow rates,” customers’ orders...

The Securities and Exchange Commission awarded more than $300,000 to a whistleblower with auditing responsibilities who helped lead to the successful enforcement of SEC and related actions. The whistleblower learned of  securities law violations in connection with their audit responsibilities. Individuals with audit or compliance responsibilities are usually not eligible for such SEC awards, but...

General Electric will $200 million penalty to settle federal claims that it misled investors by...

Tradenet Capital Markets Ltd has been charged by the Securities and Exchange Commission with offering and selling security-based swaps to over 5,000 retail investors without registration and for failing to transact its swaps on a registered national exchange. The SEC’s order says that from November 2017 to June 2020,...

The United States Securities & Exchange Commission is investigating Robinhood Markets over its sale of its clients' stock market orders to high-frequency traders, according to the Wall Street Journal. Sometime in 2018, the company changed its website to more clearly explain...