Another Rural/Metro Lesson for Sell-Side Advisors: Bank Agrees to Pay $2.5 Million to SEC to Settle Proxy Statement Claims

2 September 2016
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Key takeaways

  • SEC sanctions sell-side financial advisor for disclosure issues in its fairness presentation and client’s proxy statement.
  • Enforcement action indicates increased focus by SEC on financial advisors.
  • SEC action illustrates need for financial advisors to be precise in fairness presentations and to carefully review proxy disclosures relating to the advisor and its financial analysis.