United States: Show Me the Money: SEC Risk Alert Highlights Advisers’ Economic Conflict
By: Thoreau Bartmann, Jennifer Klass, Pablo Man, and Keri Riemer
On 9 June 2026 the SEC Division of Examinations published its second risk alert since Atkins became chair. The Risk Alert reminds investment advisers of their fiduciary obligation to disclose economic conflicts of interest that might cause advisers and their financial professionals to recommend certain products, services, or account types. Citing the SEC’s fiduciary interpretation from 2019 and longstanding examination priorities, the Risk Alert identifies the following areas of concern:
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