Violation Tracker Individual Record

Company: 
Cornerstone Benefit Advisors, LLC
Penalty: 
$1,405,126
Year: 
2017
Date: 
October 17, 2017
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Cornerstone Benefit Advisors and its managing member were ordered to pay a fine of $575,000 and $830,126 in restitution in a Final Order finding that it deceptively sold securities, failed to fulfill fiduciary duties and committed multiple records violations.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Kentucky Department of Financial Institutions
Civil or Criminal Case: 
civil
Facility State: 
Kentucky
Facility City: 
Louisville
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.