Live Breaking News & Updates on Commission Share Class Selection Disclosure Initiative

CapWealth Plans to Fight SEC Charges Over Share Class Conflicts
The SEC alleges CapWealth failed to disclose lower-cost share class options to its clients. But the RIA s founder calls the complaint a shameful exercise and an abuse of power.”
The founder of a Tennessee firm plans to fight charges from the Securities and Exchange Commission that his firm failed to disclose conflicts arising from clients being invested in higher-cost mutual fund share classes for clients when lower-cost options were available. 
The SEC’s complaint against Franklin, Tenn.-based CapWealth Advisors is the latest in a number of filings following the Commission’s Share Class Selection Disclosure Initiative. ....

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