At least 60,000 clients were overcharged approximately US$18 million in unauthorized fees, the regulator’s order states
The primary whistleblower in the case will receive more than US$4 million while the two others will split more than US$3 million
The firm has agreed to pay a US$1.5-million penalty for failing to disclose benefits it paid on behalf of its former CEO, Miles Nadal
The U.S. regulator alleged that the firm improperly prevented departing employees from potentially collecting whistleblower awards
The regulator, which published its list of priorities for 2018, will also examine wrap programs and the possible exploitation of senior investors
An alert stresses the importance for investors to understand the full impact of brokerage fees on their investment accounts
The whistleblower will receive more than US$900,000, meaning the SEC has awarded a total of 37 whistleblowers more than US$136 thus far
Andrew Ceresney’s departure is the latest among many, following chairwoman Mary Jo White and several other senior executives
The U.S. regulator has now distributed approximately US$135 million to 36 whistleblowers since issuing its first award in 2012
The regulator altered several aspects of the plan to adopt a consolidated audit trail in response to public comments and recommendations from the SROs