Defendant Name: A.R. Schmeidler & Co., Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Hudson Valley Holding Corp.
SIC Code: 6712
CUSIP: 44417210

Document Reference: IA-3637

Document Details

Legal Case Name In the Matter of A.R. Schmeidler & Co., Inc.
Document Name Order Instituting Administrative and Cease-And-Desist Proceedings, Pursuant to Section 15(b)(4) of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940 Against A.R. Schmeidler & Co., Inc., Making Findings , Imposing Remedial Sanctions and A Cease-And-Desist Order
Document Date 31-Jul-2013
Document Format Administrative Proceeding
File Number 3-15399
Allegation Type Investment Advisers/Investment Companies
Document Summary On July 21, 2013, the SEC published an Order Instituting Administrative and Cease-and-Desist Proceedings. According to the SEC: "This matter involves the failure by ARS, a dually registered investment adviser and broker-dealer, to seek best execution in breach of its fiduciary duty under the Advisers Act in connection with certain of its advisory clients, and a failure to implement policies and procedures reasonably designed to prevent those violations."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Other Compliance Related Undertaking
Monetary Penalties:

Disgorgement

Individual:     $757,876.88 Shared:    

Civil Penalty

Individual:     $175,000.00 Shared:    

Pre-Judgment Interest

Individual:     $78,688.57 Shared:    

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Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b)(4) of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940 Against A. R. Schmeidler & Co., Inc., Making Findings, Imposing Remedial Sanctions and a Cease-and-Desist Order
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