In moves with potentially industrywide repercussions, the Securities and Exchange Commission has meted out over $100,000 in fines to two RIAs for failing to disclose nearly $5 million in loans from its broker dealer to clients.
Washington Wealth Management, now known as Kestra Private Wealth Services, was fined and censured $50,000 by the SEC for failing to disclose $1.8 million in loans from its broker-dealer to clients.
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