United States
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



2024 / 2025 Summits in Hong Kong & Singapore
Institutional Investor Summit / Roundtable - March / Oct / Nov
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register


This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $30 billion.











United States SEC Fines 9 Investment Advisory Firms $1.24 Million for Violating Marketing Rule with Misleading or Insufficient Disclosure on Advertisements, 9 Firms are Abacus Planning Group, AZ Apice Capital Management, Beta Wealth Group, Droms Strauss Advisors, Howard Bailey Securities, Integrated Advisors Network, Professional Financial Strategies, Richard Bernstein Advisors & TS Bank d/b/a Callahan Financial Planning

11th September 2024 | Hong Kong

The United States Securities and Exchange Commission (SEC) has fined 9 investment advisory firms $1.24 million for violating marketing rule with misleading or insufficient disclosure on advertisements.  The 9 firms are Abacus Planning Group, AZ Apice Capital Management, Beta Wealth Group, Droms Strauss Advisors, Howard Bailey Securities, Integrated Advisors Network, Professional Financial Strategies, Richard Bernstein Advisors & TS Bank d/b/a Callahan Financial Planning.  United States SEC (9/9/24): “The Securities and Exchange Commission today announced settled charges against nine registered investment advisers for violating the Marketing Rule by disseminating advertisements that included untrue or unsubstantiated statements of material fact or testimonials, endorsements, or third-party ratings that lacked required disclosures. All nine firms have agreed to settle the SEC’s charges and to pay $1,240,000 in combined civil penalties.  The SEC’s orders find that Abacus and Callahan Financial published advertisements with untrue statements about third-party ratings and that Callahan Financial posted an advertisement falsely claiming that it was a member of an organization that did not exist. The SEC’s orders find that AZ Apice, Callahan Financial, Droms Strauss, and Integrated Advisors disseminated advertisements that claimed to provide conflict-free advisory services, which the firms were not able to substantiate. According to the SEC’s order, Beta Wealth disseminated advertisements that it could not substantiate regarding an award provided to a firm principal. According to the SEC’s order, Howard Bailey disseminated advertisements claiming to contain two testimonials, but neither actually came from current clients. It also advertised endorsements that did not disclose that the endorser was a paid, non-client of Howard Bailey in videos, on social media, and on physical objects such as bags and flags. Finally, as set forth in the orders, Abacus, Beta Wealth, Professional Financial, and Richard Bernstein Advisors included in their advertisements third-party ratings, some of which were more than five years old, without disclosing the dates on which the ratings were given or the periods of time upon which the ratings were based.  Without admitting or denying the SEC’s findings, all of the firms consented to the entry of orders finding that they violated the Investment Advisers Act of 1940 and ordering them to be censured, cease and desist from violating the charged provisions, comply with certain undertakings, and pay the civil penalties referenced above.”

“ United States SEC Fines 9 Investment Advisory Firms $1.24 Million for Violating Marketing Rule with Misleading or Insufficient Disclosure on Advertisements, 9 Firms are Abacus Planning Group, AZ Apice Capital Management, Beta Wealth Group, Droms Strauss Advisors, Howard Bailey Securities, Integrated Advisors Network, Professional Financial Strategies, Richard Bernstein Advisors & TS Bank d/b/a Callahan Financial Planning “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
17th Oct Hong Kong | 7th Nov Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place on 17th Oct 2024 in Hong Kong, 7th Nov 2024 in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here


The 2024 Family Office Summit
17th Oct Hong Kong St Regis | 7th Nov Singapore Amara Sanctuary Resort

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here


2024/2025 Institutional Investor Summit / Roundtable
March / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Senior investment team from Sovereign Wealth Funds, Pension Funds, Endowments, Foundations & Charities in Hong Kong, Singapore & Asia-Pacific at the 2024 Institutional Investor Summit / Roundtable.   Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore

Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit.  Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here





 

The nine firms and their penalties are:

  • Abacus Planning Group Inc. agreed to pay a civil penalty of $150,000;
  • AZ Apice Capital Management LLC agreed to pay a civil penalty of $70,000;
  • Beta Wealth Group, Inc. agreed to pay a civil penalty of $80,000;
  • Droms Strauss Advisors Inc. agreed to pay a civil penalty of $85,000;
  • Howard Bailey Securities LLC agreed to pay a civil penalty of $90,000;
  • Integrated Advisors Network LLC agreed to pay a civil penalty of $325,000;
  • Professional Financial Strategies Inc. agreed to pay a civil penalty of $60,000;
  • Richard Bernstein Advisors LLC agreed to pay a civil penalty of $295,000; and
  • TS Bank d/b/a Callahan Financial Planning agreed to pay a civil penalty of $85,000.

 

 

United States SEC Fines 9 Investment Advisory Firms $1.24 Million for Violating Marketing Rule with Misleading or Insufficient Disclosure on Advertisements, 9 Firms are Abacus Planning Group, AZ Apice Capital Management, Beta Wealth Group, Droms Strauss Advisors, Howard Bailey Securities, Integrated Advisors Network, Professional Financial Strategies, Richard Bernstein Advisors & TS Bank d/b/a Callahan Financial Planning

United States



Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 17th Oct2024 Investment Day Singapore 7th Nov2024 Family Office Summit Hong Kong 17th Oct2024 Family Office Summit Singapore 7th Nov2025 Events












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • July 2024 - Hong Kong
    • July 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Oct 2024 - Hong Kong
    • Nov 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014