The SEC charges Hudson Advisors and Lone Star Global Acquisitions for failing to disclose that fund fees included $54.6 million of Hudson owner’s income tax liability between at least 2005 and 2017.
- Have agreed to pay $11.2 million in civil penalties
- Have reimbursed the affected funds $68.5 million, which includes interest on the undisclosed tax liability charges
- SEC finds that Hudson and Lone Star Global failed to implement conflicts of interest procedures and fee disclosures
- Without admitting or denying the SEC’s findings, Hudson and Lone Star Global agreed to a cease-and-desist order finding that they violated Sections 206(2) and 206(4) ...
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