Analysis

SEC Keeps Up Aggressive Wrap Fee Enforcement, For Now

By Carmen Germaine (May 10, 2017, 9:49 PM EDT) -- The U.S. Securities and Exchange Commission stepped up the pace of its pursuit of programs charging a supposedly all-inclusive wrap fee on Wednesday, fining Barclays Capital Inc. $97 million over charging fees for services that weren't delivered, but experts said it's too early to tell if the agency will keep up the hunt under new SEC Chairman Jay Clayton.

The Barclays case is the latest enforcement action the SEC has brought against wrap fee programs. (AP) Barclays agreed Wednesday to pay $67 million in disgorgement and interest and a $30 million penalty without admitting or denying a bevy of claims that...

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