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Betterment Settles with SEC for $9 Million Over Tax-Loss Harvesting Errors.

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Source: CNBC
Betterment Settles with SEC for $9 Million Over Tax-Loss Harvesting Errors.
Photo: CNBC
TL;DR

Robo-advisor Betterment has agreed to pay $9m to settle charges with the US Securities and Exchange Commission (SEC) that it misled customers about its tax-loss harvesting service. The SEC alleged that Betterment "misstated or omitted several material facts" in client communications concerning its tax-loss harvesting service. The service saved hundreds of millions of dollars in taxes for more than 275,000 customers who have used it since it was introduced in 2014.

Topics:businessfinance#betterment#compliance#finance#investment#sec#tax-loss-harvesting
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  1. Robo-advisor Betterment settles tax charges with SEC for $9 million  CNBC
  2. SEC Charges Investment Adviser Betterment for Misstatements Concerning Tax Loss Harvesting Service  SEC.gov
  3. Betterment Offers Insignificant Settlement After Losing Its Users a Potential $4 Million  TheStreet
  4. Betterment Missed Some Tax Trades  Bloomberg
  5. SEC Fines Betterment $9M for Not Revealing Tax-Loss Harvesting Errors  Wealth Management
  6. View Full Coverage on Google News

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