Defendant Name:
Cetera Investment Advisers LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
RCS Capital Corp.
SIC Code:
6153
CUSIP:
74937W10
Document Reference:
IA-5371
Document Details
Legal Case Name
In the Matter of Cetera Investment Advisers LLC
Document Name
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
Document Date
26-Sep-2019
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$185,000.00
Shared:
