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An administrative order from the SEC alleged clients at a Nebraska-based broker had their assets placed in higher-cost mutual fund share classes when lower-cost options were available.
In a virtual 'State of the Industry' briefing, CEO Ken Bentsen said he also hoped the SEC would look at how e-delivery of documents has increased during the COVID-19 pandemic.
The fine pertained to excessive and unauthorized trading and overcharged commissions, and the harmed investor was former Gov. Craig Benson, according to CNBC.
