RiverFront Investment Group has consented to a $300,000 settlement with the U.S. Securities and Exchange Commission following questions the regulatory agency had regarding an administrative proceeding by the Richmond investment advisory firm.
“We are happy to get this behind us,” Stuart Porterfield, director of retail sales and marketing for RiverFront, said in a Friday email.
The administrative proceeding involved the adequacy of RiverFront’s 2010 and 2011 regulatory disclosures regarding the frequency of “trade-away” activity in certain program accounts.
