Defendant Name: Washington Wealth Management, LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: NFP Corp.
SIC Code: 6411
CUSIP: 63607P20

Initial Case Details

Legal Case Name In the Matter of Washington Wealth Management, LLC
First Document Date 18-Jul-2016
Initial Filing Format Administrative Action
File Number 3-17349
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 206(2), 207 Investment Advisers Act

Resolutions

First Resolution Date 18-Jul-2016
Headline Total Penalty and Disgorgement $50,000

Related Documents:

IA-4456 18-Jul-2016 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 July 18, 2016, the SEC instituted a settled administrative proceeding against Washington Wealth Management, LLC. According to the SEC, the company failed to disclose to its clients that it received more than $1.8 million in loans from a newly-engaged broker-dealer and registered investment adviser.
ia-4455-s 18-Jul-2016 Administrative Summary
SEC Charges Investment Advisers for Failing to Disclose Conflicts of Interest Arising from Receipt of Forgivable Loans
On July 18, 2016, the SEC published an administrative summary release announcing that it filed a settled complaint against Washington Wealth Management, LLC, for violations of Sections 206(2) and 207 of the Advisers Act. According to SEC, the company failed "to disclose receipt of revenue from a third-party broker-dealer", which resulted in a conflict of interest.