July 9, 2021

Registered investment advisor Kestra Advisory Services, LLC will pay disgorgement and interest of $8.5 million and a civil penalty of $1.5 million to resolve SEC charges that it failed to disclose revenue sharing payments received by an affiliated broker-dealer when its clients invested in certain mutual funds.  SEC

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, Misrepresentations, Regulatory Violations,