The Securities and Exchange Commission has announced charges against 11 institutional investment managers for failing to file reports, known as Forms 13F. Among those charged is Mason Investment Advisory Services, based in Reston, VA. The SEC charged 11 institutional investment managers, including Oradell's Traphagen Investment, for failing to file required reports. This violation pertains to the failure to submit reports required of firms with more than $100 million in certain securities.
Nine out of the 11 firms charged by the federal regulator have agreed to pay civil penalties related to Form 13F and Form 13H violations. The firms agreed to pay the SEC combined civil penalties of more than $81 million. This highlights the seriousness of failing to comply with reporting requirements set forth by regulatory bodies.
Mason Investment Advisory Services, despite its ranking as No. 13 on the 2021 CNBC Financial Advisor 100 list, now faces legal repercussions for its failure to file the necessary reports. This serves as a reminder to all investment managers to adhere to regulatory requirements to avoid facing similar charges in the future.
Wealth manager LGT Crestone has appointed Escala founding partners Steve Collins and Mason Allamby as partners and investment advisers, showcasing the importance of following compliance regulations in the financial industry. Compliance with reporting requirements is crucial in maintaining a reputable and trustworthy reputation in the investment advisory sector.
Aaron Wealth Advisors, an independent multi-family office, announced the firm has launched a new offering, the Aaron Wealth Liquidity Execution Group. This move emphasizes the significance of staying up-to-date with regulatory filings and ensuring all necessary reports are submitted in a timely manner.
Mason Plumlee, in discussing his financial experience, shared the sentiment, "Invest with the end in mind. You're one injury away from your career ending." This underscores the importance of prudent financial planning and compliance with regulatory standards to safeguard one's financial future.
Overall, the charges brought against Mason Investment Advisory Services and other firms serve as a cautionary tale for the investment management industry. Adherence to reporting requirements is essential in upholding the integrity of the financial markets and avoiding legal repercussions.
