Violation Tracker Individual Record

Company: 
Innovative Financial Solutions, LLC et al.
Penalty: 
$2,466,092
Year: 
2019
Date: 
March 15, 2019
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Innovative Financial Solutiosn, LLC, Alternative Portfolio Solutions, LLC and one individual were ordered to pay $2,275,350 in restitution, $66,060 in disgorgement of commissions, and $4,682 in costs, and the companies were to pay $120,000 in civil penalties in an Order finding they fraudulently sold unregistered securities in the state without being registered to deal in securities.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Missouri Secretary of State-Securities
Civil or Criminal Case: 
civil
Facility State: 
Missouri
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.