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

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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.

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