SEC Charges Five Private Fund Advisers with Custody Rule and Form ADV Violations
The SEC charged five private fund advisers with custody and Form ADV deficiencies.
September 07, 2023
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SEC Charges Nine Private Fund Advisers with Custody, Form ADV Rule Violations
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September 19, 2022
Adviser Fined for Custody Rule Violations for Facilitating Loans Between Clients
The SEC has fined a California-based registered investment adviser and its president for custody failures. The president, who was the majority owner of the adviser, facilitated $30 million in loans...
October 07, 2021
Adviser Fined for Conflicts Disclosure and Custody Issues Related to Private Fund Investments
The SEC has fined a Connecticut-based investment adviser and its principal for inadequate disclosure of conflicts of interest related to investments of a private fund client and for violations of...
September 22, 2021
The SEC has fined an Ohio-based dual-registrant for violating the Custody Rule because the firm did not provide investors in two private funds that it advised with audited financial statements...
September 22, 2021
SEC Charges Private Funds Auditor for Causing Adviser to Violate Custody Rule
The SEC has instituted administrative proceedings against a Colorado-based SEC-registered adviser’s audit firm, audit engagement partner, and quality review partner for “widespread audit failures” in connection with 12 audits of...
July 27, 2021
Florida Adviser Sanctioned Over Performance Fees, Custody Rule Violations
The SEC fined a Florida-based investment adviser and its president $61,808.34 in connection with violations of the Advisers Act Custody Rule, Compliance Program Rule, and certain antifraud provisions. Between February...
October 02, 2020
Investment Adviser Fined $75,000 for Custody Rule Violations
The SEC settled an enforcement action with a New York City-based investment advisory firm for violations of the Advisers Act Custody Rule. The SEC found the investment adviser violated the...
September 18, 2020