Defendant Name:
KMS Financial Services, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Ladenburg Thalmann Financial Services Inc.
SIC Code:
6211
CUSIP:
50575Q10
Document Reference:
34-92807
Document Details
Legal Case Name
In the Matter of KMS Financial Services, Inc.
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C 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
30-Aug-2021
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On August 30, 2021, the SEC instituted settled administrative and cease-and-desist proceedings against KMS Financial Services, Inc. stating: "These proceedings arise out of KMS’s failure to adopt written policies and
procedures reasonably designed to safeguard customer records and information, in violation of
Rule 30(a) of Regulation S-P (17 C.F.R. § 248.30(a))."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$200,000.00
Shared:
