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The SEC charged Dean McDermott and his firm, McDermott Investment Advisors, for investing clients’ funds in unit investment trusts with extra charges when more affordable options were available.
The funding, structured as a convertible note from Kennedy Lewis Investment Management, will boost Sanctuary’s M&A activity and improve its technology platform.
SEC Commissioner Caroline Crenshaw said single-stock ETFs posed 'another, perhaps greater, risk' for investors than leveraged and inverse ETFs, and believed it would be hard for advisors to recommend such products while meeting their Reg BI...