1439

These proceedings arise from Voya's alleged breach of its fiduciary duties to its advisory clients in connection with: (a) Voya's mutual fund share class selection practices and the financial benefits it received for advising clients to purchase and hold mutual fund share classes that paid fees pursuant to Rule 12b-1 under the Investment Company Act of 1940; (b) Voya's receipt of compensation in connection with certain client cash sweep accounts; and (c) Voya's policy of requiring advisory clients to pay an upfront brokerage commission when purchasing illiquid alternative investment products when the same investment was available to advisory clients with the brokerage commissions waived. For...View all