SEC Marks End of Shutdown with Six Adviser Enforcement Actions

The Securities and Exchange Commission sued half a dozen investment advisers, a notable spike in enforcement activity coinciding with the end of the government shutdown, alleging misrepresentations in the companies’ disclosures.

The Thursday complaints allege that the advisory firms didn’t accurately portray their business location, assets under management, and clients in Form ADV filings.

Six new actions in a single day are a departure from limited agency capacity during the shutdown, against the backdrop of lower SEC enforcement activity after President Donald Trump’s inauguration, compared to litigation over the same period last year.

Adviser defendants named in the complaints filed ...