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Violation Tracker Individual Record

Company: Sands Brothers Asset Management LLC
Penalty: $1,000,000
Year: 2015
Date: November 19, 2015
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: An investment advisory firm, two owners, and a former chief compliance officer agreed to settle charges that the firm again violated the custody rule after being reprimanded for violations only a few years before. Sands Brothers Asset Management LLC and co-founders Martin Sands and Steven Sands agreed to pay a $1 million penalty and be suspended for a year from raising money from new or existing investors. They also agreed to having a compliance monitor for three years.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.