Defendant Name: Santos, Postal & Company, P.C.

Defendant Type: Other

Initial Case Details

Legal Case Name In the Matter of Santos, Postal & Company, P.C. and Joseph A. Scolaro, CPA
First Document Date 29-Apr-2016
Initial Filing Format Administrative Action
File Number 3-17238
Allegation Type Investment Advisers/Investment Companies
AAER 3772

Violations Alleged

Other
• Rule 102(e)(1)(iv) Commission's Rules of Practice

Resolutions

First Resolution Date 29-Apr-2016
Headline Total Penalty and Disgorgement $29,077

Related Documents:

34-77745 29-Apr-2016 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 4C of the Securities Exchange Act of 1934, Section 203(k) of the Investment Advisers Act of 1940, and Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On April 29, 2016, the SEC instituted settled cease-and-desist proceedings against Santos, Postal & Company, P.C. and Joseph A. Scolaro, CPA. The SEC stated: "This matter involves repeated failures by SPC, an accounting firm, and Joseph A. Scolaro, an SPC partner, in connection with SPC's examinations of client funds and securities of which a registered investment adviser has custody (the "Examinations") pursuant to Section 206(4) of the Advisers Act and Rule 206(4)-2 thereunder (the "Custody Rule"). In particular, Respondents engaged in improper professional conduct under Section 4C of the Exchange Act and Rule 102(e)(1)(ii) and (iii) of the Commission's Rules of Practice when completing their 2010 and 2011 Examinations. In addition, Respondents twice filed reports on Forms ADV-E that contained untrue statements of material facts regarding the Examinations, thereby violating Section 207 of the Advisers Act."

Other Defendants in Action:

Joseph A. Scolaro, CPA

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