Investors misled in risky, conflicted private equity funds, authorities alleged
Defendants to pay $8 million, including $2.4 million for class counsel
U.S. advisory firm settles allegation that it levied undisclosed fees
SEC alleged firm failed to disclose conflicts in mutual fund revenue sharing
Regulators lament shrinking shelves, eroding support for junior issuers
Government highlights plans for innovation, consumer protection
Concerns about investor harm arise as trailers persist, despite 2012 ban
Conflict arose from allocation that generated revenue from "no fee" accounts
Regulator alleged US$14 million overcharging, settles for US$150,000 penalty
Pilot project could lead to broader shift to less frequent reporting