Investment advisory firm Strategic Capital Group LLC will pay close to $600,000 to settle Securities and Exchange Commission charges accusing it of participating in trades involving conflicts of interest, the agency said Thursday.
The SEC claimed that the Gig Harbor, Wash.-based firm engaged in over 1,100 principal transactions by way of its brokerage affiliate RP Capital LLC without making proper disclosures to clients. The firm also allegedly failed to obtain required client consent on principal transactions, in which a firm buys or sells securities from or to client accounts.
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