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William Blair and Company to Pay $4.5 Million Fine to Regulator

William Blair and Company to Pay $4.5 Million Fine to Regulator

William Blair and Company to Pay $4.5 Million Fine to Regulator 150 150 Rex Securities Law

MAY 2017

According to the U.S. Securities and Exchange Commission, Chicago based brokerage firm William Blair and Company will pay $4.5 million to settle charges that mutual fund assets were used to pay for the distribution and marketing of fund shares outside of a Rule 12b-1 plan and that the firm failed to disclose it would retain a fee for providing shareholder administrative services to certain funds.

Link to SEC release

The payment errors cost the funds $1.25 million, which William Blair has repaid with interest.

FINRA records disclose that WIlliam Blair and Company has 25 prior regulatory events. The company has been a FINRA member since 1944.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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