Dupree Financial Group Fined $25,000 and Censured for Compliance Failures
From the Desk of Jim Eccleston at Eccleston Law LLC:
The SEC has fined and censured Dupree Financial Group, LLC (Dupree Financial) $25,000 for compliance failures. According to the SEC, Dupree Financial, a registered investment advisor, failed to conduct annual compliance reviews for a number of years and named an unqualified administrative assistant as its CCO. Dupree Financials’ appointed CCO never obtained any formal training concerning the compliance requirements of the Advisers Act.
Dupree Financial has neither admitted nor denied the SEC’s findings, but has consented to the sanctions.
Even though Dupree Financial retained external compliance consultants to assist in developing its compliance program, it made significant compliance errors.
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Related Attorneys: James J. Eccleston
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