Defendant Name:
Northwest Advisors, Inc.
Defendant Type:
Subsidiary of Public Company
Document Reference:
IA-5830-s
Document Details
Legal Case Name
In the Matter of Northwest Advisors, Inc.
Document Name
SEC Orders Former Investment Adviser to Return Over $900,000 to Clients Harmed by Share Class Selection Disclosure Violations
Document Date
24-Aug-2021
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
The SEC " announced that formerly registered
investment adviser Northwest Advisors, Inc. has agreed to pay approximately $1.15 million to settle charges that it
invested clients in more expensive mutual fund share classes, which provided the firm with financial benefits,
without disclosing this conflict to clients. The settlement includes a distribution to harmed investors."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Disgorgement
Individual:
$779,416.00
Shared:
Civil Penalty
Individual:
$245,000.00
Shared:
Pre-Judgment Interest
Individual:
$123,084.00
Shared: