SEC Says Securities Brokers Charged $13M In Hidden Fees
By William Gorta ( August 9, 2016, 2:22 PM EDT) -- Transition management brokerage Global Transition Solutions and three of its executives bilked customers — typically public pension funds — out of $13 million "in a long-standing scheme" by coordinating with routing brokers to impose markups on the transactions and splitting the proceeds, the U.S. Securities and Exchange Commission charged Monday in a lawsuit in Pennsylvania federal court....
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