CMG Capital Management Fined by SEC Over Fund Advertising
CMG Capital Management Group (CMG) was censured and fined $70,000 for failing to implement policies and procedures reasonably designed to prevent false or misleading advertisements concerning the firm’s investment strategies. SEC Complaint Against CMG Capital Summary of SEC Allegations Regarding CMG Here are the key details of the allegations: CMG advertised hypothetical, backtested performance results […]
Comprehensive Capital Management (CCM) Fined for Misleading Statements
Comprehensive Capital Management (CCM) was fined $375,000 in disgorgement and penalties by the SEC for misrepresenting fee-related information and failing to disclose conflicts of interests. Summary of SEC Complaint Against Comprehensive Capital Here are the details: Investment advisers are required to deliver a brochure containing plain English disclosures of the adviser’s fees and conflicts of […]
Avantax Reaches Settlement with the SEC over Fee Complaint
On December 20, 2021, the Securities and Exchange Commission announced that it would be entering into a settlement with Avantax Advisory Services, Inc. Avantax was formerly known as 1st Global Advisors, Inc. The order, which is below, concerns conflicts of interests arising from the sale of mutual funds. SEC Order with Avantax Did You Lose […]
Regal Investment Advisors Fined by SEC Over Durand Capital Partners
John Kailunas (CRD 2048289), Brian Yarch (CRD 4075003), and Regal Investment Advisors were fined by the SEC. This is according to public disclosures made on September 16, 2012. Important Information about the Fine Involving Regal Investment Advisors The SEC alleged that Regal improperly charged advisory fees. According to the SEC Regal Investment Advisors also failed […]
US Oil Fund Agrees to Pay $2.5 Million Over SEC Disclosures
United States Oil Fund (NYSEARCA:USO) and its parent company, United States Commodity Funds, LLC have reached a settlement with the SEC. The settlement relates to allegations that US Oil Fund made misleading statements to investors and the public during the initial days of the COVID-19 pandemic. Did You Lose Money Investing in US Oil Fund? Notice: […]
SEC Reaches Settlement with Lefavi Wealth Management Over Private Placement Conflicts
On September 3, 2019, the Securities and Exchange Commission announced that Lefavi Wealth Management agreed to settle charges related to its failure to disclose conflicts of interests. Lefavi Wealth Management allegedly failed to notify customers that purchased non-traded REITs, business development corporations or other alternative investments of certain discounts. The firm agreed to pay a […]