SEC Fines NJ Hedge Fund $375K Over Fees, Improper Policies
By Katryna Perera (January 11, 2022, 7:47 PM EST) -- A New Jersey-based investment adviser has agreed to pay over $375,000 in disgorgement and penalties over claims it included an inappropriate liability disclaimer in its client advisory agreements and other violations, according to a U.S. Securities and Exchange Commission statement Tuesday.
The press release said Comprehensive Capital Management Inc. also failed to rebate fees charged to certain retirement accounts, and failed to maintain accurate records and implement required compliance policies.
According to the federal agency, this is the third action against the investment company since 2013.
Comprehensive Capital did not admit to or deny the SEC's allegations, but has agreed to...
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