Defendant Name: Cetera Investment Advisers LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: RCS Capital Corp.
SIC Code: 6153
CUSIP: 74937W10

Initial Case Details

Legal Case Name In the Matter of Cetera Investment Advisers LLC
First Document Date 26-Sep-2019
Initial Filing Format Administrative Action
File Number 3-19530
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Section 206(4) Advisers Act; Rule 206(4)-3 Advisers Act

Resolutions

First Resolution Date 26-Sep-2019
Headline Total Penalty and Disgorgement $185,000

Related Documents:

IA-5371 26-Sep-2019 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On September 26, 2019, the SEC instituted settled administrative and cease and desist proceedings against Cetera Investment Advisers LLC ("Cetera"). The SEC stated: "These proceedings arise out of Cetera’s violation of Section 206(4) of the Advisers Act and Rule 206(4)-3 thereunder (the “Solicitor Rule”), which prohibit a registered investment adviser from paying a solicitor a cash fee for solicitation activities unless, among other things, the solicitor furnishes the client with a separate written disclosure document identifying the solicitor and the investment adviser, describing the nature of the relationship between the solicitor and the investment adviser, and specifying the terms of the compensation arrangement."