Regulatory Alerts2024-03-26
Consent Agreement and Order: Bruce A. Kraig Associates
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Bruce A. Kraig Associates for violating the Pennsylvania Securities Act of 1972. The firm failed to report that it held custody of client funds by maintaining written records of client usernames and passwords for custodial accounts. As relief, the firm agreed to pay a $45,000 administrative assessment in installments and to comply with state securities regulations without admitting or denying the allegations.
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