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 Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.