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Violation Tracker Individual Record

Company: Summit Asset Strategies
Penalty: $1,143,933
Year: 2015
Date: September 4, 2015
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Violation Description: A Bellevue, Wash.-based investment advisory firm and its CEO agreed to pay $1 million to settle allegations of fraudulently inflating the values of investments in the portfolio of a private fund they advised so they could attain unearned management fees.
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.