SEC Sues Conn. Firm And CEO Over 'Mark-Ups,' Fees

Law360, New York (December 11, 2017, 8:57 PM EST) -- A Connecticut investment advisory firm and its top executive generated roughly $780,000 in undisclosed “mark-ups” and fees by sticking clients with risky securities from the firm’s proprietary brokerage account and costlier share classes of mutual funds, the U.S. Securities and Exchange Commission said in a suit filed Monday.

The SEC’s complaint, which was filed in Connecticut federal court, accused Westport Capital Markets LLC and its CEO Christopher E. McClure of abusing the authority they had to make investment decisions on behalf of clients.

“Westport and McClure...
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Case Information

Case Title

Securities and Exchange Commission v. Westport Capital Markets, LLC et al


Case Number

3:17-cv-02064

Court

Connecticut

Nature of Suit

Securities/Commodities

Judge

Jeffrey A. Meyer

Date Filed

December 11, 2017

Government Agencies

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