BOSTON – Fidelity Investments illegally let dozens of unregistered advisers trade in customer accounts through its brokerage unit for at least a decade, gaining client assets and fee income while putting customers at risk, Massachusetts regulators claim in a complaint brought against the mutual-fund giant on Monday.
According to an administrative complaint filed by lawyers for the securities division of Secretary of State William Galvin's office, Boston-based Fidelity allowed unregistered advis
BOSTON – Fidelity Investments illegally let dozens of unregistered advisers trade in customer accounts through its brokerage unit for at least a decade, gaining client assets and fee income while putting customers at risk, Massachusetts regulators claim in a complaint brought against the mutual-fund giant on Monday.
According to an administrative complaint filed by lawyers for the securities division of Secretary of State William Galvin's office, Boston-based Fidelity allowed unregistered advis…
