March 24, 2026
The U.S. Securities and Exchange Commission has agreed to accept $5 million from Commonwealth Financial Network to resolve conflict disclosure claims, nearly a year after the First Circuit overturned the agency's previous $93 million judgment against the firm.
February 02, 2026
The U.S. Securities and Exchange Commission says it has reached a deal to end a lawsuit accusing Commonwealth Financial Network of failing to disclose conflicts of interest, after the First Circuit overturned the agency's $93 million win against the Massachusetts-based financial firm.
June 20, 2025
The U.S. Securities and Exchange Commission has entered settlement negotiations with Massachusetts-based financial firm Commonwealth Financial Network, two months after the First Circuit nixed the agency's $93 million win against the company, according to a court document filed Friday.
April 01, 2024
A Massachusetts federal judge has handed victory to the U.S. Securities and Exchange Commission by ordering Commonwealth Financial Network to pay $93.2 million due to its "egregious" failure to disclose conflicts of interest to clients who could have used that information to invest in lower cost mutual funds.
February 26, 2024
A Massachusetts federal judge has refused to reconsider a judgment against Commonwealth Financial Network that found it failed to disclose an arrangement with its clearing firm that favored certain mutual funds to investors, saying the company has not identified any new evidence or an error in the court's application of the law.
May 05, 2023
Massachusetts-based Commonwealth Financial Network has urged a federal judge to reconsider a judgment against the company that found it failed to tell clients it had a conflict of interest because investments recommended by advisers were based on a revenue-sharing agreement it had with the holder of their assets.
April 07, 2023
A Boston federal judge agreed with the U.S. Securities and Exchange Commission on Friday that a Massachusetts investment adviser violated federal law when it didn't tell clients about an arrangement with its clearing firm that gave the company financial reasons to encourage investment in certain funds over others.
August 01, 2019
A Massachusetts investment adviser managing $85 billion in assets for hundreds of thousands of clients did not tell investors about an arrangement with its clearing firm that incentivized steering money to certain mutual funds, according to a U.S. Securities and Exchange Commission suit filed Thursday.