SEC Charges Nine Investment Advisers in Ongoing Sweep into …

The nine firms and their penalties are: Abacus Planning Group Inc. agreed to pay a civil penalty of $150,000; AZ Apice Capital Management LLC agreed to pay a civil penalty of $70,000; Beta …

CouponFollow Extension

$150000
OFF

SEC Charges Nine Investment Advisers In Ongoing Sweep Into …

2 weeks from now

The nine firms and their penalties are: Abacus Planning Group Inc. agreed to pay a civil penalty of $150,000; AZ Apice Capital Management LLC agreed to pay a civil penalty of $70,000; Beta …

sec.gov

$1.24
OFF

Nine RIAs To Pay $1.24 Million In Ongoing Marketing Rule Sweep: …

2 weeks from now

Sep 9, 2024 · Nine firms agreed to pay $1.24 million in total for failing to comply with the Securities and Exchange Commission's marketing rule. ... Nine RIAs agreed to $1.24 million in …

advisorhub.com

$1240000
OFF

SEC Charges Nine Investment Advisers In Ongoing Marketing Rule …

2 weeks from now

Sep 11, 2024 · Combined, these nine RIAs agreed to pay $1,240,000 in civil penalties. “Investment advisers must comply with all aspects of the Marketing Rule, and we will continue …

fairviewinvest.com

$1.24
OFF

SEC Marketing Rule Sweep Fines 9 Firms | Financial Planning

2 weeks from now

Sep 9, 2024 · All told, the firms agreed to pay $1.24 million to resolve allegations that they had violated the Security and Exchange Commission's prohibition on making unsubstantiated …

financial-planning.com

$850
OFF

Hypothetical Dangers: SEC Fines Nine RIAs $850K Combined In …

2 weeks from now

Sep 11, 2023 · The penalties ranged from $50,000 to $175,000 per firm. All nine firms agreed to the sanctions without admitting or denying the findings. The Commission overhauled its …

advisorhub.com

FAQs about SEC Charges Nine Investment Advisers in Ongoing Sweep into … Coupon?

Should Rias be prepared for the new marketing rule examination?

The SEC has provided numerous warnings to RIAs regarding the new Marketing Rule. Since the SEC characterizes the Marketing Rule examination sweep as ongoing, RIAs should immediately assess the state of their Marketing Rule compliance and be prepared for examination. The SEC and its staff have long viewed hypothetical performance with skepticism. ...

Should Rias include performance in advertisements?

RIAs that include such performance in advertisements should, at a minimum, avoid presenting hypothetical performance to a general audience and develop extensive controls and disclosures. As noted above, the Custody Rule is a top priority for SEC staff. ...

Did Rias fail to distribute audited financial statements?

In the SEC’s recent enforcement actions relating to custody, the SEC alleged that certain of the RIAs failed to distribute annual audited financial statements prepared in accordance with GAAP to investors in certain private funds that it advised within 120 days of the fund’s fiscal year, as required by Rule 206 (4)-2 (b) (4). ...

Did a registered investment adviser violate the marketing rule?

The Securities and Exchange Commission today announced settled charges against nine registered investment advisers for violating the Marketing Rule by disseminating advertisements that included untrue or unsubstantiated statements of material fact or testimonials, endorsements, or third-party ratings that lacked required disclosures. ...

Did Rias violate rule 204-1(a) under the Advisers Act?

In the orders, the SEC alleged that the RIAs violated Rule 204-1 (a) under the Advisers Act because they did not file a Form ADV amendment to update the response to Section 7.B.23 (h) until roughly a year after receiving the audit opinion. ...

Can a registered investment adviser advertise a hypothetical performance on a website?

The Securities and Exchange Commission today announced charges against nine registered investment advisers for advertising hypothetical performance to the general public on their websites without adopting and/or implementing policies and procedures required by the Marketing Rule. ...