The Securities and Exchange Commission today announced that 21 investment advisers and 6 broker-dealers have agreed to settle charges that they failed to timely file and deliver their client or customer relationship summaries
GG hitting the ground running!
The SEC’s orders find that the investment advisers violated Section 204 of the Investment Advisers Act of 1940 and Advisers Act Rules 204-1 and 204-5, and that the broker-dealers violated Section 17(a)(1) of the Securities Exchange Act of 1934 and Exchange Act Rule 17a-14. Without admitting or denying the findings, the firms agreed to be censured, to cease and desist from violating the charged provisions, and to pay the following civil penalties:
- Altschuler, James Stephen, a Lexington, Massachusetts-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Canton Hathaway LLC, a Providence, Rhode Island-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Carmel Capital Management LLC, a Carmel, California-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Castle Wealth Planning LLC, a Santa Barbara, California-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Cohen Klingenstein LLC, a New York, New York-based investment adviser, has agreed to pay a $97,523 civil penalty.
- Dynamic Trading Management LLC, a White Plains, New York-based investment adviser, has agreed to pay a $10,000 civil penalty.
- Eastside Financial Advisors LLC, a Fayetteville, New York-based investment adviser, has agreed to pay a $10,000 civil penalty.
- Embree Financial Group Inc., a Chicago, Illinois-based investment adviser, has agreed to pay a $97,523 civil penalty.
- Harold Davidson & Associates Inc. a Los Angeles, California-based investment adviser, has agreed to pay a $25,000 civil penalty.
- John A. Bysko Associates, an Old Lyme, Connecticut-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Madden Funds Management Ltd., an Oak Park, Illinois-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Medallion Wealth Advisors LLC, a Farmington, Connecticut-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Mighty Oak Strong America Investment Company, a Mechanicsburg, Pennsylvania-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Minot DeBlois Advisors LLC, a Boston, Massachusetts-based investment adviser, has agreed to pay a $97,523 civil penalty.
- O’Brien Greene & Co. Inc., a Media, Pennsylvania-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Paratus Financial Inc., a Dallas, Texas-based investment adviser, has agreed to pay a $97,523 civil penalty.
- Quantitative Asset Management LLC, a Wayzata, Minnesota-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Sauberan & Company LLC, a Lockport, New York-based investment adviser, has agreed to pay a $10,000 civil penalty.
- Summit Financial Advisors Inc., a Lebanon, Ohio-based investment adviser, has agreed to pay a $25,000 civil penalty.
- The Cavanaugh Group Inc., a Towson, Maryland-based investment adviser, has agreed to pay a $50,000 civil penalty.
- Westbourne Investments Inc., an Alexandria, Virginia-based investment adviser, has agreed to pay a $25,000 civil penalty.
- Bill Parker Agency, a Sacramento, California-based broker-dealer, has agreed to pay a $10,000 civil penalty.
- Birkelbach & Co., a Ponte Vedra Beach, Florida-based broker-dealer, has agreed to pay a $10,000 civil penalty.
- Capital Portfolio Management Inc., a Timonium, Maryland-based broker-dealer, has agreed to pay a $25,000 civil penalty.
- Greentree Investment Services Inc., a Bridgeville, Pennsylvania-based broker-dealer, has agreed to pay a $10,000 civil penalty.
- ST Invest LLC d/b/a Trade App, a San Antonio, Texas-based broker-dealer, has agreed to pay a $10,000 civil penalty.
- Tradier Brokerage Inc., a Charlotte, North Carolina-based broker-dealer, has agreed to pay a $50,000 civil penalty.
