Action against Respondents, two investment advisors and their founders, for alleged fraud.  According to the SEC, Respondents made various misstatements in Form ADV filings, including claiming that they had assets under management when they had none and were ineligible to register as investment advisors.  The SEC also alleges that Respondents misled prospective clients about the composition and qualifications of their investment-advisory team.  Two Respondent founders have agreed to pay civil penalties of $25,000 each and to association and investment-company bars.

SEC Order

SEC Administrative Summary