Defendant Name:
Winslow, Evans & Crocker, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
National Holdings Corporation
SIC Code:
6211
CUSIP:
63637520
Document Reference:
34-91118
Document Details
Legal Case Name
In the Matter of Winslow, Evans & Crocker, Inc.
Document Name
Corrected Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and 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
11-Feb-2021
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On February 12, 2021, the SEC instituted settled cease-and-desist proceedings against Winslow, Evans & Croker, Inc., stating: "These proceedings arise out of breaches of fiduciary duty by Winslow, a dually-registered investment adviser and broker-dealer, in connection with Winslow’s mutual fund share
class and cash sweep selection practices that resulted in its receipt of three types of fees from its
advisory clients’ investments at times from January 2014 through October 2020."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Various undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Fair Funds
Monetary Penalties:
Disgorgement
Individual:
$1,350,715.64
Shared:
Civil Penalty
Individual:
$300,000.00
Shared:
Pre-Judgment Interest
Individual:
$201,071.44
Shared:
