Articles Tagged with Mutual Fund Abuse Attorney

Commonwealth Financial Network Ordered To Pay $93.3M Over Mutual Fund Revenue Sharing

SEC Alleged Breach of Fiduciary Duty When Firm Recommended Mutual Fund Shares That Paid It Fees 

Earlier this year, Commonwealth Financial Network was ordered to pay  $93.3M in a breach of fiduciary duty lawsuit filed by the US Securities and Exchange Commission (SEC) in 2019. The regulator claimed that the independent broker-dealer and investment adviser did not disclose material conflicts of interest involving revenue-sharing agreements with clearing firm National Financial Services.