SEC
Whistleblower
Attorneys

September 14, 2018

Capital Analysts, LLC

Trading and Pricing

SANCTION AMOUNT: $2120349

Defendants: Capital Analysts, LLC
Putnam Investment Management, LLC

The Commission found that Respondent, a registered investment adviser, failed to make proper disclosures regarding its mutual fund share class selections, including that it unnecessarily/improperly selected share classes that charged 12b-1 fees, and regarding its receipt of revenue sharing payments from a clearing broker.

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