Defendant Name: Washington Wealth Management, LLC

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

Document Reference: IA-4456

Document Details

Legal Case Name In the Matter of Washington Wealth Management, 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 18-Jul-2016
Document Format Administrative Proceeding
File Number 3-17349
Allegation Type Investment Advisers/Investment Companies
Document Summary 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.

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Monetary Penalties:

Civil Penalty

Individual:     $50,000.00 Shared:    

Related Documents:

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.