Connect with us

Hi, what are you looking for?

Finance

Charges From The US Securities Regulation 5 Investment Advisers Have Broken The Custody Regulation

President Joe Biden has highlighted these achievements under "Bidenomics," but a more thoughtful assessment should recognize the importance of economic resilience. (Photo: Google)

Washington, D.C., is home to the Securities and Exchange Commission (SEC) of the United States. On Tuesday, the U.S. Securities and Exchange Commission announced that it had filed charges against five investment adviser businesses for violating regulations relating to the security of client funds.

Violations

The SEC stated in a statement that the violations involved requirements for the custody of client funds and involved things like failing to carry out necessary audits and send audited financial statements to investors on schedule.

US

Source: CNN

The following companies did not admit or reject the SEC’s findings: Apex Financial Advisors Inc., Bluestone Capital Management LLC, the Eideard Group, Disruptive Technology Advisers LLC, and Lloyd George Management (HK) Ltd.

According to the SEC, Disruptive Technology consented to pay a $225,000 civil fine. The Eideard Group consented to shell out $80,00. Bluestone Capital concurred to pay $75,000 in full. Lloyd George consented to fork over $50,000 as a fine. Requests for comment from attorneys at those firms were not immediately fulfilled.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Crime

Texas man Eduardo Arevalo confessed of strangling his pregnant sister for being an “embarrassment” to the family in 2019. Texas Man’s 8 Months Pregnant...

Finance

Even though the last wave of the federal government stimulus checks was distributed over two years ago, at least three distinct states are still...

Finance

The US is expected to distribute further stimulus funds through a variety of initiatives. Direct cash, tax refund, or some other kind of assistance...

Crime

Cameron Wright, a 22-year-old was sentenced with 55 years in prison for killing, dismembering and throwing girlfriend’s body at separate locations according to his...