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GLOBALT Investments LLC and Synovus Financial Corp. today announced the completion of a transaction through which the leadership team of GLOBALT has purchased the firm from Synovus and now operates...
Wednesday, January 20, 2021 Further to the Securities and Exchange Commission (“SEC” or the “Commission”)’s ongoing review of investment advisers offering wrap fee programs, on December 23, 2020, the Commission announced a settlement with Pruco Securities, LLC (“Pruco”) related to alleged breaches of fiduciary duty in connection with its wrap fee programs. Pruco agreed to pay disgorgement, interest, and civil penalties totaling over $18.2 million to compensate for its alleged breaches of its fiduciary duties to its advisory clients that participated in its wrap fee p...