Defendant Name: Hilltop Securities Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Hilltop Holdings, Inc.
SIC Code: 6022
CUSIP: 43274810

Initial Case Details

Legal Case Name In the Matter of Hilltop Securities, Inc. and Hilltop Securities Independent Network, Inc.
First Document Date 30-Sep-2019
Initial Filing Format Administrative Action
File Number 3-19560
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Section 206(2) Advisers Act

Resolutions

First Resolution Date 30-Sep-2019
Headline Total Penalty and Disgorgement $810,785

Related Documents:

IA-5393 30-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 30, 2019, the SEC instituted settled administrative and cease and desist proceedings against against Hilltop Securities, Inc. ("HTS") and its affiliate Hilltop Securities Independent Network, Inc. ("HTIN"). The SEC stated: "These proceedings arise out of breaches of fiduciary duty and inadequate disclosures by registered investment advisers HTS and HTIN in connection with mutual fund share class selection practices and the fees Respondents received pursuant to Rule 12b-1 under the Investment Company Act of 1940 ("12b-1 fees")."

Other Defendants in Action:

Hilltop Securities Independent Network, Inc.